Crayon Group Holding ASA (OB:CRAYN) completed the acquisition of Sensa ehf. from vhf..
April 07, 2021
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Crayon Group Holding ASA (OB:CRAYN) entered into a purchase agreement to acquire Sensa ehf. from vhf. (ICSE:SIMINN) for ISK 3.5 billion on December 2, 2020. Under the terms of the transaction, the settlement of purchase price payable at completion is to be split between 2/3 in cash and 1/3 in shares of Crayon Group Holding ASA subject to a 12-month lock-up from date of agreement. Monthly release of 1/12 of shareholding during the lock-up period (i.e., a right, but no obligation to sell). For the last twelve month ending June, 2020, Sensa ehf. had revenues of ISK 5.1 billion and EBITDA of ISK 561 million. The share capital increase pertaining to the issuance of the 699,635 new shares has been registered with the Norwegian Register of Business Enterprises. The agreement is subject to approval by the Icelandic Competition Authority. On March 18, 2021, Icelandic Competition Authority approved the transaction. The Integration and value capture plan is to be executed upon the completion of the share purchase agreement by December, 2020 to February, 2021. The transaction is expected to close by February 28, 2021. As per announcement on March 18, 2021, the deal is expected to close by the end of March 2021. The transaction is accretive to Crayon Group Holding ASA.
Crayon Group Holding ASA (OB:CRAYN) completed the acquisition of Sensa ehf. from vhf. (ICSE:SIMINN) on April 8, 2021. The consideration is paid as ISK 2.3 billion in cash and 699,635 shares in Crayon Group.
Crayon Group Holding ASA is a Norway-based company engaged in the information technology (IT) sector. The Companyâs activities are divided into five segments: The Software and Cloud Direct, which comprises license offering from its partners, such as Microsoft, Adobe, Symantec, Citrix, VMware, Oracle and IBM, that focuses on standard software for technological platforms and critical commercial processes; The Software and Cloud Channel, that offers system integrators and ISVs, which includes license advisory, software sales and access to Crayons Tool and IP; The Software and Cloud Economics services include processes and tools for enabling clients to build in-house Software Asset management capabilities and supports clients in vendor audits; The Consulting that consist of cloud consulting and services related to cloud migration and development; and The Admin and shared segment, that includes administrative income and costs, global costs and elimination. The Company operates worldwide.