In order to increase transparency and give both current and new potential shareholders greater insight into what is happening within the company, ZetaDisplay aims to publish recurring newsletters. Read the first CEO letter, published in April, here: https://bit.ly/2slTKXv.
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Earlier this week, ZetaDisplay announced that the company acquired Norwegian Webpro AS, a successful and profitable player in digital store development with most well-known international customers - including McDonalds and a world-leading furniture store chain most familiar.
Through the acquisition, we not only strengthen our leading position with increased delivery capacity and a larger customer base, but we also increase the important repetitive revenues, resulting in reduced risk and long-term stability throughout the Group.
In order to take advantage of the market's rapidly accelerating maturity and the potential we see in the coming years, the Board decided in this connection to also implement a rights issue of 74.5 MSEK. This issue is fully secured by the fact that a number of existing shareholders, directors and senior executives have entered into subscription agreements and / or issue guarantees.
The capital contributed by the issue means that ZetaDisplay will continue to grow rapidly in line with the previously communicated strategy, where acquisitions and consolidation of the market create valuable synergies. With a strong balance sheet we can continue to expand.
The need for various digital store solutions is growing extremely fast, and by consolidating the market, ZetaDisplay has become a driving force for the entire industry's development, while the Group has quickly become one of the largest players in Europe, which in turn opens up to bigger customers and projects emerging.
Our expanded investments have already created concrete values - just over a week ago, we were pleased to announce the market for the Group's absolute biggest deal so far: an agreement with ATG worth about 100 MSEK, of which 80 MSEK is expected to be invoiced by 2018.
The inevitability of the shift we now see in the industry - with e-commerce and high rents pushing the physical retail and service industry, combined with the overall digitalization wave - creates very good conditions for us and will do so for a long time to come. The market is gigantic, and now it's up to scale up and meet the growing need!
Leif Liljebrunn, CEO ZetaDisplay
About ZetaDisplay ZetaDisplay is a leading supplier of solutions for digital shop development helping companies in the retail chain and service industry become more competitive through innovative services and products which narrow the gap between the digital and physical. ZetaDisplay is in a strong growth phase and intends to establish itself globally over the next few years. Its headquarters are located in Sweden with sales offices in Denmark, Norway, Finland, Estonia and the Netherlands. Since 2017, ZetaDisplay's shares have been traded on Nasdaq's main market under the ticker name ZETA. You can follow ZetaDisplay on Twitter at https://twitter.com/zetadisplaypubl and you can read more about the company on its website at http://zetadisplay.com/ .
