Sweden, 2017-10-31 14:10 CET (GLOBE NEWSWIRE) --
ZetaDisplay has today completed the acquisition of LiveQube AS in Norway. The acquisition is being carried out in accordance with the agreement entered into with the sellers on 12 September 2017, which was made public through a press release issued on the same day.
The acquisition of LiveQube entails that ZetaDisplay is broadening its range of services for streamed and customer-adapted music. The service is scalable and provides synergies for other subsidiaries in the corporate group.
The acquisition of LiveQube is a natural step for ZetaDisplay in offering customers more services which enhance their experience in shops or other public environments. In commercial terms, it will create excellent possibilities for increasing sales to existing customers since they are already using ZetaDisplay ‘s platform.
ZetaDisplay’s goal is to continue its journey of growth and actively take part in the ongoing consolidation of the industry in Europe. This may entail that ZetaDisplay will further strengthen its position with several more acquisitions on the local market where the company is established, acquisitions outside of the Nordic region, or acquisitions, as in the case with LiveQube , where the range of products and services is broadened allowing for scalable services and synergies with other countries.
LiveQube generates approximately 30% of its sales outside of Norway. The company was founded in 2010 and has solid experience in the industry. LiveQube has eight employees.
LiveQube’s customer base includes, among others, Burger King, 7-eleven, Nordic Choice Hotels, and DnB.
Implementation of the acquisition of LiveQube
The acquisition of LiveQube is taking place through the acquisition by ZetaDisplay of all of the shares in LiveQube in exchange for payment in cash of MNOK 10.1 plus compensation for net cash on account of approximately MNOK 3.8. Provided the defined threshold values for earnings are achieved, a supplemental purchase price will be payable in a maximum amount of MNOK 3.9. A smaller portion of this will be paid out during the beginning of 2018 with the remainder being paid in the beginning of 2020.
Financing of the acquisition of LiveQube
The acquisition is being financed with cash funds and loans.
Advisors
The law firms Fredersen Advokatbyrå and Advokatfirmaet Schjødt AS are the legal advisers to ZetaDisplay in conjunction with the acquisition.
If you have any questions, please contact:
ZetaDisplay AB (publ)
CEO Leif Liljebrunn
Tel: +46 70 845 80 52
Email: leif.liljebrunn@zetadisplay.com
The information contained in this press release is the type of information which ZetaDisplay is obligated to publish under the Market Abuse Regulation. The information was caused to be published by Leif Liljebrunn on 31 October 2017 at 2:00 PM.
About ZetaDisplay
ZetaDisplay is a leading supplier of Digital Signage to major retail chains and the service industry on the European market.
Its headquarters are located in Sweden with sales offices in Denmark, Norway, Finland, Estonia and the Netherlands. Since April 2011, the company’s shares have been traded on NASDAQ First North Premier under the ticker name ZETA. The Certified Adviser is Erik Penser Bankaktiebolag. More information is available at http://www.zetadisplay.com .
About Digital Signage and multichannel communications
ZetaDisplay defines Digital Signage as systems for advertising, profiling and store communications which convey sound, images and films at shops and in public environments. Solutions based on digital screens are a large part of the market, but the development is towards utilizing ever more digital channels in order to communicate offers and other information to customers. This involves solutions which are integrated with social media and websites, as well as applications for smart mobile telephones and tablets which create interactivity with the customer. The development is also towards integrating solutions with the cashier systems of the store chains for automatic price updates and automatic replacement of messages on the digital screens.
