Agile Content, S.A. completed the acquisition of Over-The-Top-Networks business from UUX;
August 04, 2017
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Agile Content, S.A. (BME:AGIL) agreed to acquire Over-The-Top-Networks business from UUX for $7.9 million on May 9, 2016. The settlement of consideration will be done through a mix of cash payment of $5 million payable in two due dates; one in the initial stage and the other one 12 months after and remaining through the issuance of new shares of Agile Content. UUX is also entitled to a variable fee, dependent on achieving of certain financial variables in financial year 2016. As part of transaction, all of the executive team of OTTN will be incorporated into the AGILE group along with the two main executives Ricardo Cidale, current Chief Executive Officer of UUX, will take on the position of Chief Commercial Officer (CCO) on the AGILE and Reynaldo Fagundes, current Chief Operating Officer of UUX will take on the position of Chief Technology Officer in Agile. Agile Content will absorb all the employees. Agile Content expects to raise €1.8 million ($1.89 million) in its share issue of 1.1 million new shares. For the year ended on December 31, 2015, Over-The-Top-Networks reported revenue of $7.5 million. Baker & McKenzie Madrid S.L., and Gómez-Acebo & Pombo Abogados, S.L.P. acted as legal advisors for Agile. BDO carried out due diligence in the transaction.
Agile Content, S.A. (BME:AGIL) completed the acquisition of Over-The-Top-Networks business from UUX on August 5, 2017. Of the total purchase price of $7.9 million, out of which Agile Content paid $4.14 million. The remaining amount will be paid afterwards, in cash and company shares. The cash payment of $1.89 million was paid in December 2016.
Agile Content SA is a Spain-based company primarily engaged in the provision of information technology (IT) services. The Company focuses on the development, distribution and promotion of IT platforms used in the production and editing of audiovisual, online and digital content, as well as in the provision of Web content management (WCM) services. Its solutions range comprises services and tools for audience resource management, multimedia editorial systems, smart publishing systems, smart delivery systems, and rich media experience, among others. The Companyâs customers include RBS Group, RTVE, el Periodico, Estadao, and el Universal, among others. Moreover, the Company has operation established in a number of regions, such as Latin America, North America, Europe, the Middle East and Asia.
AGILE CONTENT, S.A. 
