Thunderful Group enters into an agreement regarding changes of additional earn-out component in relation to the acquisition of Coatsink Software Ltd

Thunderful Group (”Thunderful”) announces today that an agreement has been entered into with the sellers of Coatsink Software Ltd (“Coatsink”) to extend the earn-out period.In accordance with previously communication, there was an opportunity for the sellers of Coatsink to receive an additional earn-out component in relation to the sale of the company which took place on October 2, 2020. In addition to the initial consideration, there was the possibility of additional earn-out components of MGBP 42.5, to be paid provided that certain agreed-upon financial targets were met on a yearly basis