Wirtek has entered into a comprehensive non-binding agreement (Letter of Intent) to acquire a profitable, growth-oriented software company providing outsourcing services that complement and further build-out Wirtek's service offerings.
The expected acquisition is closely aligned with Wirtek's newly published Accelerate25 strategy and will further expand Wirtek's access to international clients, international sales channels, and will add approximately 40 new colleagues to Wirtek.
The acquisition, when and if completed, will have a substantial positive effect on both revenue and EBITDA for Wirtek during the financial year 2021 and in the entire Accelerate25 strategy period.
The final closing of the acquisition is planned for beginning of April 2021 and is conditional upon a satisfactory due-diligence result.
Cash and share-based payment
Payment for the acquisition will be given partly in cash and partly in Wirtek shares. A significant part of the share-based payment will be directly linked to the financial results of the acquired software company over the next years.
Wirtek has as an integral part of the acquisition entered into conditional agreements to purchase existing Wirtek shares to cover up to 100% of the shares needed for the share-based payment. These conditional agreements have been entered into with the Board of Directors, who are willing to support the completion of the transaction.
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. Wirtek is a Danish IT outsourcing company.
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