Earnout for Rahalaitos determined at MEUR 3.4
Speqta AB (publ) (“Speqta”) has agreed with Sambla Group AB (“Sambla”) on the additional payment (“earnout”) for the Eone Oy (“Rahalaitos”) transaction made at the end of 2021. The earnout has been determined at MEUR 3.4 (approximately MSEK 36.8) and will be paid in the end of December 2022. The earnout will further strengthen Speqta financially.
Speqta acquired Rahalaitos in January 2020 and paid a purchase price of MEUR 23.5. In November 2021 Speqta entered into an agreement with Sambla to sell Rahailots for a cash payment of MEUR 37.5 (cash free basis), and a cash earnout of maximum MEUR 8.0. The earnout has been based on two parameters, achieved revenue and EBITDA of Rahalaitos for the period from 1 November 2021 up to and including 31 October 2022. Rahalaitos has been performing well under Speqta’s management, especially during the final months of the period, and the revenue parameter reached 85%, while the EBITDA parameter reached 0%. The agreed-upon earnout is therefore MEUR 3.4 (approximately MSEK 36.8), and will be paid to Speqta in the end of December 2022. The net inflow of cash to Speqta is estimated to be MSEK 34.2 after costs associated with the earnout.
The earnout will further strengthen Speqta financially, and its position as a funded and debt-free startup business with an attractive offer in e-Commerce.
The CEO of Speqta, Fredrik Lindros, comments:
"I’m very proud of our collaboration with the Rahalaitos team during the earnout period. They’ve proven themselves to be the Finnish loan brokering market leaders and we wish them all the best in their continued journey with the Sambla group. The cash received will strengthen our financial situation further and the service www.bidbrain.com."
The CEO of Sambla, Per Österström, comments:
"I’m impressed with the final sprint of the Rahalaitos team and am now looking forward to working closer with them. Their knowledge and skills on the Finnish market will enhance the Sambla Group’s journey to becoming the leading comparison platform for consumer loans and mortgages in Northern Europe."
For further information:
Fredrik Lindros
CEO Speqta AB (publ)
fredrik.lindros@speqta.com
+46 723 10 66 66
About Speqta
Speqta is an Adtech company that offers traffic generating services in eCommerce using data and AI. The company has two services: The Affiliate network Shopello and the SaaS service Bidbrain, and is listed on Nasdaq First North Premier Growth Market in Stockholm under the ticker "SPEQT". Redeye AB is the company’s Certified Adviser.
www.speqta.com
