Gofore Oyj entered into an agreement to acquire Emundo GmbH for ?10.8 million on October 27, 2022. The consideration will be paid in 30 percent of the purchase price of ?8.0 million euros in shares and 70 percent in cash consideration. The purchase price consists of the debt-free price of business operations of ?8.0 million euros including compensation payable for the net cash and working capital adjustment of approximately net zero euros.

Up to ?2.8 million more upon the achievement of certain growth and profitability targets. The acquisition is estimated to be closed on or about November 1, 2022. As of year ended in 2021, eMundo reported revenue of ?6.1 million and EBITDA ?0.4 million.

Bird & Bird LLP, Germany acted as legal advisor to Gofore Oyj (HLSE:GOFORE). Team led by Christoph Bregullaa and Jussi Vuorinen of MCF Corporate Finance acted as financial advisor to Gofore Oyj.