Knowit finalizes the acquisition of Cybercom
Knowit has finalized the previously announced acquisition of Cybercom – creating a Nordic powerhouse for digital solutions with a sustainable impact.
The board of directors of Knowit AB has, based on the authorization granted by the extraordinary general meeting on 28 May 2021, resolved to carry out a non-cash issue of 5,760,833 new shares for payment of part of the consideration related to Knowit’s acquision of Cybercom Intressenter AB (“Cybercom”).
The consideration of the acquisition of Cybercom is paid by SEK 505 million in cash as well as through the non-cash issue of the 5,760,883 newly issued shares to the sellers of Cybercom (corresponding to a dilution of 21.0 percent based on the number of shares after the completion of the non-cash issue). Through the transaction, the selling main shareholders of Cybercom, Formica Capital and JCE Group, will become the largest owners in Knowit, with a holding of 10.5 respectively 8.5 percent of the total number of shares and votes outstanding.
The two organizations will be brought together under the Knowit brand. Overall, the new group is expected to create a platform for continued profitable growth, and Knowit expects the acquisition to be accretive to earnings per share during 2022.
This press release was made public, through the agency of the persons below, at 4 pm CEST on July 1 2021.
 The original cash consideration has been adjusted for additional shares as a result of the exercise of warrants, an adjustment for interest on the purchase price during the period from the day the agreement was entered into until 31 May 2021 as well as an adjustment for distibutions to the sellers until the closing date.
For more information, please contact
Marie Björklund, CFO, +46 70 1449802 or firstname.lastname@example.org
Per Wallentin, CEO Knowit, +46 73 746860 or email@example.com
Christina Johansson, CCO Knowit AB, +46 70 5421734 or firstname.lastname@example.org
We are digitalization consultants and a Nordic powerhouse for the digital business models of the future. Our vision is to create a sustainable and humane society through digitalization and innovation. Knowit supports its clients in the digital transformation and stands out among other consultancy firms through its decentralized organization and agile work methods in client assignments. The operations are divided into four business areas – Solutions, Experience, Connectivity, and Insight – which offer services in bespoke system development, digital customer experiences, the internet of things, cloud, cybersecurity, and management consultancy. Competences from several business areas are often combined in client projects.
Knowit was founded in 1990 and, following the acquisition of Cybercom on July 1, 2021, has around 3,800 employees, mainly in the Nordic countries, but also in Poland and Germany. The merger with Cybercom has created new opportunities to take on larger and more complex assignments, primarily within the industry, tech, and telecom sectors. In addition, an even stronger platform is created, from which we offer digital solutions to the sustainability challenges of society.
Knowit AB (publ) has been listed on the stock market since 1997 and is currently listed on Nasdaq OMX Stockholm Mid Cap. For more information on Knowit, please visit knowit.eu.