Fondia Oyj (HLSE:FONDIA) agreed to acquire Jansson & Norin for €2.3 million on January 22, 2018. Of the initial deal value of €1.6 million, €1.3 million will be paid in cash while Fondia will issue shares for €0.3 million. The terms of the transaction include an earn-out scheme with a maximum additional payment of approximately €0.7 million, tied to the development of Fondia's merged Swedish unit's turnover for the next two years. The amount will be paid in installments after the financial close for 2018 and 2019 and any earn-out will be paid as a combination of shares and cash. The cash contributions related to the purchase price are funded from Fondia's cash assets. Jansson & Norin's entire share capital will be transferred to Fondia's ownership and the businesses will be merged in 2018 under the Fondia brand. Jansson & Norin reported a turnover of €1.4 million and operating loss of €0.1 million for the year 2017. All the customers and 21 employees in the Gothenburg and Stockholm offices will be transferred to Fondia. The deal is expected to be finalized on January 31, 2018. The acquisition supports Fondia's turnover growth goals and it is estimated that Fondia's Swedish operations will have a positive impact on Fondia's earnings per share in 2019 and onwards. The transaction is not expected to have a material impact on the company's medium-term relative profitability and dividend policy. Alexander Corporate Finance Oy acted as financial advisor to Fondia. Henrik Markkula, Fia Eriksson and Sebastian Berlin of BDO acted as the accountant to Fondia. Fondia Oyj (HLSE:FONDIA) completed the acquisition of Jansson & Norin in January 2018.