SONAECOM, S.G.P.S., S. A.
Public Company
Head Office: Lugar do Espido, Via Norte, Maia
Registered at the Maia Commercial Registry
Sole Registry and Tax Id nr. 502 028 351
Share Capital: Euro 230.391.627,38
(Translation from the Portuguese original)
ANNOUNCEMENT
Sonaecom, SGPS, S.A. ("Sonaecom") hereby informs that its subsidiary Sonae Investment Management - Software and Technology, SGPS, S.A. ("Sonae IM"), has reached an agreement today with Mobileum, Inc. ("Mobileum"), according to which Sonae IM will sell to Mobileum the entire share capital and voting rights of WeDo Consulting - Sistemas de Informação, S.A. ("WeDo Technologies").
The closing of the transaction is subject to the fulfilment of a set of requirements defined by the parties (conditions precedent), so the effects of the transaction are dependent upon such fulfilment.
The transaction price comprises a fixed amount of 70 Million USD and a variable and deferred amount, depending on the performance of the combined businesses, until 31 December 2021, with a maximum value of 27 Million USD.
With this transaction, Sonae IM continues to carry out an active management strategy of its portfolio of technology-based companies, with the aim of consolidating its position as a reference international investor, while reinforcing WeDo Technologies' growth path and relevance in the global market, which represents a clear opportunity for the company and its people.
Maia, July 10, 2019
On behalf of the Board of Directors
SONAECOM, S.G.P.S., S. A.
Public Company
Head Office: Lugar do Espido, Via Norte, Maia
Registered at the Maia Commercial Registry
Sole Registry and Tax Id nr. 502 028 351
Share Capital: Euro 230.391.627,38
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Sonaecom SGPS SA published this content on 10 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 July 2019 23:07:09 UTC