Wirtek signs non-binding acquisition agreement
Company Announcement no. 11/2022
14 July 2022
This announcement contains inside information
Wirtek has entered into a comprehensive non-binding agreement (Letter of Intent) to acquire a profitable, growth-oriented software company providing IT outsourcing services that complement and further build-out Wirtek’s service offerings.
The expected acquisition is closely aligned with Wirtek’s Accelerate25XL strategy and will strengthen Wirtek’s consultancy services while also supporting Wirtek’s international sales expansion. The acquisition will add approximately 15 new colleagues with highly specialized skills to Wirtek.
The acquisition, when and if completed, will have a positive effect on both revenue and EBITDA for Wirtek during the financial year 2022 and in the entire Accelerate25XL strategy period.
The final closing of the acquisition is planned for August 2022 and is conditional upon a satisfactory due-diligence result.
Cash and share-based payment
Payment for the acquisition will be given partly in cash and partly in Wirtek shares. A significant part of the payment will be directly linked to the financial results of the acquired software company over the next years.
The pricing of the shares used in the agreement has been calculated based on the current pricing of Wirtek shares on the Nasdaq First North Growth Market.
Further details about the potential acquisition will be published after finalizing negotiations.
Wirtek will publish the interim report for Q2 2022 on 10 August 2022.
Further information
- Michael Aaen, CEO, Wirtek A/S, Phone: +45 2529 7575, E-mail: ir@wirtek.com
Niels Jernes Vej 10, 9220 Aalborg Ø, www.wirtek.com - Kent Mousten Sørensen, Chairman, Wirtek A/S, Phone: +45 2125 9001
- Per Vestergaard, Certified Advisor, CDI Global, Phone: +45 2176 4317
About Wirtek
Wirtek is a Danish IT outsourcing company. Since 2001, we have been teaming up with companies to help them create great software solutions and electronic equipment products.
Several clients have been with us for 10+ years, so we can confidently say that in outsourcing, the quality of the relationship matters just as much as the quality of the delivered software. Our clients get state-of-the-art technical solutions and a committed team that works with them as if it were their own.
Wirtek has offices in Denmark (HQ + sales) and three development and test centres in Romania, and we are 180+ colleagues. Wirtek was listed at Nasdaq First North Growth Market Denmark in 2006.
Ticker Code: WIRTEK (DK0060040913)