Wirtek signs non-binding acquisition agreement

Company announcement no. 6/2024
18 April 2024

This announcement contains inside information

Wirtek has entered into a comprehensive non-binding agreement (Letter of Intent) to acquire a profitable IT services company in Portugal that provides services complementing Wirtek’s existing service offerings in the Clean Energy sector.

The expected acquisition is closely aligned with Wirtek’s Accelerate25XL strategy. Wirtek achieves the strategic goal of having a sourcing location outside of Romania by 2025 while strengthening its competencies in the Clean Energy domain. Wirtek also gains access to new international clients as well as approx. 20 IT specialists.

The acquisition, when and if completed, will have a positive effect on both revenue and EBITDA for Wirtek during the financial year 2024.

The final closing of the acquisition is planned for end of May 2024 and is conditional upon a satisfactory due-diligence result.

Payment for the acquisition will be given partly in cash and partly in Wirtek shares. 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 all the agreements has been calculated based on the current pricing of Wirtek shares on the Nasdaq First North Growth Market.

Further details about the acquisition will be published after the final closing.

Further information

• Kent Mousten Sørensen, Chairman, Wirtek A/S, Phone: +45 2125 9001
• Michael Aaen, CEO, Wirtek A/S, Phone: +45 2529 7575, E-mail: ir@wirtek.com
  Niels Jernes Vej 10, 9220 Aalborg, Denmark, www.wirtek.com
• Grant Thornton, Certified Advisor, Phone: +45 3311 0220

About Wirtek

Wirtek A/S is a Danish IT consultancy company that provides software development, testing, and consultancy services to help clients worldwide. Wirtek specializes in Digitalization, Energy, Workforce & Facility Management, Wireless Communication & Automation, and Trade & E-commerce.

At Wirtek, we prioritize building long-term client relationships, with some lasting over a decade. We believe that quality partnerships are just as important as software quality in achieving our client's goals. Established in 2001, we have offices in Denmark and Romania and have been listed on Nasdaq First North Copenhagen since 2006.  

Ticker Code: WIRTEK (DK0060040913)