Knowit finalizes the acquisition of Cybercom

The board of directors of Knowit AB has, based on the authorization granted by the extraordinary general meeting on 28 May 2021, resolved to carry out a non-cash issue of 5,760,833 new shares for payment of part of the consideration related to Knowit’s acquision of Cybercom Intressenter AB (“Cybercom”).

The consideration of the acquisition of Cybercom is paid by SEK 505 million¹ in cash as well as through the non-cash issue of the 5,760,883 newly issued shares to the sellers of Cybercom (corresponding to a dilution of 21.0 percent based on the number of shares after the completion of the non-cash issue). Through the transaction, the selling main shareholders of Cybercom, Formica Capital and JCE Group, will become the largest owners in Knowit, with a holding of 10.5 respectively 8.5 percent of the total number of shares and votes outstanding.

The two organizations will be brought together under the Knowit brand. Overall, the new group is expected to create a platform for continued profitable growth, and Knowit expects the acquisition to be accretive to earnings per share during 2022.

¹⁾ The original cash consideration has been adjusted for additional shares as a result of the exercise of warrants, an adjustment for interest on the purchase price during the period from the day the agreement was entered into until 31 May 2021 as well as an adjustment for distibutions to the sellers until the closing date.