Netum Group Oyj (HLSE:NETUM) signed an agreement to acquire Buutti Oy on July 14, 2023. Netum Group Plc will acquire the entire share capital of Buutti Oy for an enterprise value of ?10 million. 70% of the consideration will be paid in cash and 30% in new shares in Netum. Netum will issue 865851 shares to the shareholders of Buutti. The purchase price also includes compensation for net cash and working capital adjustment at the time of closing. The final purchase price will be announced after the closing. In addition sellers have the possibility of additional earn-out purchase price depending on the achievement of revenue and operating profit targets for the 2024 financial year. Netum will finance the acquisition with a bank loan, a directed share issue to the sellers and cash reserves. Buutti Oy revenue in 2022 was ?9.3 million and operating profit was ?1.1 million and equity ?1.7 million. The transaction is expected to close on September 1, 2023.

Netum Group Oyj (HLSE:NETUM) completed the acquisition of Buutti Oy on September 1, 2023. As a part of agreement Netum was issued 865851 shares worth of ?3 million to shareholders of Buutti Oy.