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BRIEF-Techstep announces acquisition of BKE Telecom
July 3, 2017 / 12:48 PM / in 5 months

BRIEF-Techstep announces acquisition of BKE Telecom

July 3 (Reuters) - TECHSTEP ASA

* TECHSTEP ANNOUNCES ACQUISITION OF BKE TELECOM AB\, AND THEREBY CREATES A

* ‍ENTERED INTO A BINDING AGREEMENT TO ACQUIRE BKE TELECOM AB (“BKE”) FOR AN AGGREGATED PURCHASE PRICE OF SEK 81 MILLION​

* PURCHASE PRICE PAYABLE AT CLOSING OF SEK 81 MILLION WILL BE SETTLED WITH SEK 38.5 MILLION IN CASH, SEK 15 MILLION IN SELLER CREDIT AND SEK 27.5 MILLION IN TECHSTEP SHARES

* SELLERS WILL HAVE RIGHT TO AN EARN-OUT PAYMENT UP TO SEK 22.5 MILLION BASED ON CERTAIN CRITERIA RELATED TO INCREASED PROFITABILITY

* CLOSING IS SUBJECT TO CUSTOMARY CONDITIONS, INCLUDING CERTAIN THIRD-PARTY CONSENTS, AND IS EXPECTED END OF AUGUST 2017 Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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