Reference is made to the stock exchange notice of 3 July 2023 regarding StrongPoint ASA’s (“StrongPoint”) planned acquisition of 100% of the shares in Brand ID Hamari Group Oy (“Hamari”). The acquisition has been successfully completed Tuesday 31. October.
Hamari is a retail technology solutions company based in Finland and was established in 2006. Hamari provides services and installation to retailers and grocery retailers, predominantly electronic shelf labels from Pricer AB.
The estimated purchase price is EUR 300,000, with potential customary closing balance sheet adjustments. The purchase price has been settled 47% in cash and 53% in shares in StrongPoint (“Consideration Shares”), with a possible extra earn-out of up to EUR 150,000 based on conditions related to financial performance for the fiscal years 2023 and 2024. The Consideration Shares are funded by treasury shares and are subject to a two-year lock-up period from closing.