Columbus A/S (CPSE:COLUM) made a conditional offer to acquire iStone AB on November 30, 2017. The acquisition is structured as an initial acquisition of 51% of the shares and subsequently successive acquisition of the remaining 49% in 2018, 2019 and 2020. The agreed acquisition price for the first 51% of the shares is SEK 230 million Enterprise Value. The final acquisition price is dependent on the final result for 2017. The price for the remaining 49% is settled at an average EBITDA multiple of 11 and thus affects the Columbus Group as a performance related earn-out. . Based on the preliminary business plan, the price for the remaining 49% is expected to be in the level of SEK 200 million to SEK 340 million. No dividend will be paid in iStone until Columbus owns more than 90% of the shares. The initial acquisition price is expected to be financed with a bank loan. The subsequent acquisitions are expected to be financed with cash flow from operations. In 2016, iStone had a revenue of SEK 790 million and an EBITDA of SEK 10.1 million. iStone's more than 600 employees will join Columbus. The offer is conditional on more than 90% of the shareholders accepting the offer and confirmation of a few partnership conditions before closing. iStone shareholders representing 73.5% of the share capital have initially accepted the offer from Columbus. iStone’s Board recommends all their shareholders to accept Columbus’ offer. The closing is planned for January 2, 2018. In 2018, the acquisition is expected to contribute with a revenue in the level of SEK 800 million and an EBITDA in the level of SEK 50 million. Columbus A/S (CPSE:COLUM) completed the acquisition of iStone AB on January 2, 2018.