Sdiptech AB (publ) acquires AVA Monitoring Pre
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Press Release 5 July 2017, 15:45 CET
Sdiptech acquires AVA Monitoring
As of today, Sdiptech has acquired all shares in AVA Monitoring.
AVA Monitoring develops and sells fully automated and cloud-based measurement systems for monitoring vibration and noise in conjunction with infrastructure projects. During the financial year 2016, the company's net sales amounted to approximately SEK 28 million. Jakob Holm, CEO, Sdiptech AB, comments:
"With AVA Monitoring, Sdiptech is acquiring a well-managed product company with leading-edge technology in the vibration monitoring market. The company's monitoring products have a key role in construction work and blasting, in order to minimize the impact on surrounding infrastructure and properties." Owe Källström, CEO, AVA Monitoring, comments:
"We are very pleased to have Sdiptech as an owner and see significant opportunities for AVA Monitoring going forward. Our operations are very compatible with Sdiptech's focus on urban infrastructure. We have several natural collaborative partners among the group's existing companies that we can grow with, both in Sweden and internationally."
Including the acquisition, Sdiptech's total annual revenue amounts to approximately SEK 1,043 million, with annual EBITA of around SEK 163 million. For companies that have been part of the Group for less than one year, the most recent annual accounts have been added to Sdiptech's most recent consolidated annual accounts. The total purchase price for the company, including future payments based on the company's financial performance over five years, is estimated at SEK 34 million. At closing, SEK 21 million was paid in cash and the remaining amount will be reported as a liability in the Group's accounts.
Sdiptech AB's ordinary Series B share is traded under the short name SDIP B with ISIN code SE0003756758. Sdiptech AB's preferred shares are traded under the short name SDIP PREF with ISIN code SE0006758348. Sdiptech AB's Certified Adviser at Nasdaq First North Stockholm is Erik Penser Bank. Further information is available on the Company's website: www.sdiptech.com
For additional information, please contact:
Carl Johan Åkesson, CFO, +46 708 30 70 57, cj.akesson@sdiptech.com Jakob Holm, CEO, +46 761 61 21 91, jakob.holm@sdiptech.com Sdiptech AB is a technology group with a primary focus on urban infrastructures. The Group offers deeply niched services and products for both expanding and renovating rapidly growing metropolitan areas. The Company is based in Stockholm, Sweden.
Sdiptech AB (publ) is required to disclose this information pursuant to EU Market Abuse Regulation 596/2014. The information was provided by the above contact persons for publication on 5 July 2017 at 15:45 CET.
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