Substrate Artificial Inteligence, S.A. (BME:SAI) agreed to acquire 70% stake in BINIT SRL and DELTANOVA SA for ?6 million on October 31, 2023. The acquisition price has been set at ?5.4 million for the acquisition of BINIT and ?0.6 million for DELTANOVA. In both cases consideration will be paid in shares of Substrate AI in a combination of A and B shares through a capital increase, to be approved by the shareholders' meeting of Substrate AI expected to be convened in January 2024 and which will be announced in due course. Brian Stockbridge of First Sentinel Corporate Finance Limited acted as Financial advisor to Substrate AI.

Substrate Artificial Inteligence, S.A. (BME:SAI) completed the acquisition of 70% stake in BINIT SRL and DELTANOVA SA on November 3, 2023.