Techstep ASA (OB:TECH) signed a binding agreement to acquire 51% stake in Conneqted 365 AB from Combined Excellence AB and employee owners for SEK 3.5 million on August 15, 2017. The consideration will be settled by SEK 2.3 million in cash and SEK 1.2 million in shares. The agreement includes an option for Techstep to acquire the remaining 49% of the shares. The acquisition comprise all shares held by Combined Excellence and the remaining on a pro rate basis from the employee owners. Conneqted delivered revenues of SEK 8.8 million and an EBITDA of SEK 0.5 million in its first fiscal period from January 2016 to April 2017. The closing of the acquisition is subject to customary conditions and is expected to take place at the end of August 2017.

Techstep ASA (OB:TECH) completed the acquisition of 51% stake in Conneqted 365 AB from Combined Excellence AB and employee owners on August 31, 2017. Techstep ASA issued total of 0.24 million shares as part of the consideration.