2018-01-09 17:30:09

Sdiptech AB (publ) completes acquisition of Aviolinx Communication and Services AB

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Press release

9 January 2018, 17:30

Sdiptech completes acquisition of Aviolinx Communication and Services AB

As of today, Sdiptech completes the acquisition of Aviolinx Communication and Services AB. The agreement to acquire was originally entered into and communicated on 13 December 2017.

Aviolinx is one of three companies in the world providing complete infrastructure and operational control for high-frequency backup communications for air traffic. The company is the only one of its kind in Europe with nearby geographies. Net sales for the 2016 financial year amounted to approximately SEK 18 million and operating income to approximately SEK 4 million.

Sdiptech's total revenue, on an annual basis after the acquisition, amounts to approximately SEK 1,220 million and EBITA on an annual basis to approximately SEK 161 million. For companies that have been under Group ownership for less than a year, the latest annual accounts have been added to the Group's earnings from other companies, based on their outcome in the past four quarters.

Jakob Holm, CEO, Sdiptech, comments:

"Aviolinx is the only player in its niche in Europe. Their offer constitutes critical infrastructure in the aviation industry, creating extremely predictable revenue regardless of economic cycles."

Joakim Andersson, CEO Aviolinx Communication and Services, comments:

"With Sdiptech, we ensure a long-term owner of Aviolinx as well as for the critical services we provide to the aviation fleet. We have long relationships with our customers, and with Sdiptech we see good opportunities to develop our overall offering."

The company is valued at SEK 38 million on acquisition, and the total purchase consideration, including future performance-based additional purchase considerations over four years, will reach a maximum of SEK 40 million, given that growth in the operations remains favourable. The company's historical operating profit includes certain costs not included in the acquisition and the calculated acquisition multiple is in line with Sdiptech's historical average. In connection with today's acquisition, SEK 28.0 million was paid in cash, while the remaining amount will be recognized as a liability in the Group's consolidated accounts.

Sdiptech AB's ordinary Series B share is traded under the short name SDIP B with ISIN code SE0003756758.

Sdiptech AB's preferred shares are traded under the short name SDIP PREF with ISIN code SE0006758348.

Sdiptech AB's Certified Adviser at Nasdaq First North Stockholm is Erik Penser Bank. Further information is available on the company's website: www.sdiptech.com  

For additional information, please contact:

Carl Johan Åkesson, CFO, +46 708 30 70 57, cj.akesson@sdiptech.com

Jakob Holm, CEO, +46 761 61 21 91, jakob.holm@sdiptech.com

Sdiptech AB is a technology group with a primary focus on urban infrastructures. The Group offers deeply niched services and products for both expanding and renovating rapidly growing metropolitan areas. The company is based in Stockholm.

The information was provided, through the care of the above contact persons, for publication 9 January 2018 at 17:30 CET.

180109 - PM EN

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Sdiptech AB via Globenewswire

Attachment: 180109 - PM EN.pdf


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