Bmax AS entered into an agreement to acquire 70% stake in Maxifier Ltd from Cxense ASA (OB:CXENSE) for $0.18 million on November 20, 2018. Bmax AS will also have an option to acquire further 50% of the remaining shares in Maxifier held by Cxense, corresponding to 15% of currently outstanding shares. The option expires on November 20, 2020. The purchase price payable to Cxense for the option shares shall be calculated using the same principles as for the purchase price, but subject to a pre-agreed enterprise value of $1 million. Under the terms of the transaction, the purchase price is still subject to a vendor credit agreement with maturity date on January 1, 2021. As of October 31, 2018, Maxifier reported total assets of $0.23 million and equity of $0.21 million. The transaction is subject to certain conditions and is expected to complete in November 2018. Aabø-Evensen & Co Advokatfirma AS acted as legal advisor to Cxense. Bmax AS completed the acquisition of 70% stake in Maxifier Ltd from Cxense ASA (OB:CXENSE) on December 17, 2018.