Netcompany Group A/S (CPSE:NETC) entered into an agreement to acquire INTRASOFT International S.A. from Intracom Holdings S.A. (ATSE:INTRK) and certain management for approximately €240 million on October 8, 2021. The transaction value of €235 million (DKK 1.75 billion) is to be settled with the sellers as a combination of cash (before adjustment for net debt) of €217 million (DKK 1.62 billion) and shares of €18 million (DKK 134 million). The cash consideration is funded by way of utilising current credit facilities which are increased by DKK 1.2 billion in the form of a bridge financing facility.

Intrasoft is to continue to operate its current business on a “stand-alone” basis. The transaction is conditional upon certain separation activities to be completed to facilitate an efficient transition for each of Intrasoft and Intracom Technologies and its affiliates after closing. Closing of the transaction is expected to take place during Q4 2021.

The financial impact of the acquisition for Netcompany in 2021 is subject to exact timing of closing of the transaction and will be communicated at completion.