Quartix Technologies PLC Acquisition of Konetik GmBH (5220M)
15 Septiembre 2023 - 1:00AM
UK Regulatory
TIDMQTX
RNS Number : 5220M
Quartix Technologies PLC
15 September 2023
Quartix Technologies plc
("Quartix", "the Group" or "the Company")
Acquisition of Konetik GmBH
Quartix Technologies plc, a leading supplier of
subscription-based vehicle tracking systems, analytical software
and services, is pleased to announce that acquisition of Konetik
Deutschland GmbH ("Konetik") the owner and developer of the
software utilised in Quartix's EVolve electric vehicle product has
now completed. Konetik has operations in Berlin and Budapest.
The total consideration payable is EUR3.9m (c.GBP3.4m), all
payable in cash, comprising an initial payment of EUR2.5m
(c.GBP2.2m), payable immediately on completion and deferred
consideration of up to EUR1.4m (c.GBP1.2m). The total amount of
deferred consideration payable will be based on the number of
EVolve subscriptions over the next 24 months with payments being
made every 6 months.
On account of the consideration being satisfied from the
Company's existing cash reserves the board expect there being a
reduction in the FY23 supplemental dividend payable to
shareholders. There will be no change to the ordinary dividend or
the Company's dividend policy going forward.
The Company also announces that its Nominated Adviser and
Broker, finnCap Ltd, has now changed its name to Cavendish Capital
Markets Limited following completion of its own corporate
merger.
Richard Lilwall, CEO of Quartix said: " We are incredibly
pleased to have acquired the underlying technology to EVolve, a
SaaS product which provides the business with additional recurring
revenue and enables our customer base to make the necessary
transition towards more sustainable fleet operations. The
acquisition will allow us to bring our excellent relationship with
Konetik in house, enabling increased efficiencies in developing the
product going forward as more operators address the challenges and
opportunities of electrifying their fleets."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014 as retained as part of UK
law by virtue of the European Union (Withdrawal) Act 2018 as
amended.
For further information, please contact:
Quartix (www.quartix.net)
Richard Lilwall, Chief Executive Officer
Emily Rees, Chief Financial Officer 01686 806 663
Cavendish Capital Markets Limited (Nominated Adviser and Broker)
Matt Goode / Seamus Fricker (Corporate Finance)
Alice Lane / Sunila de Silva (Corporate Broking) 020 7220 0500
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQFZGMLNDNGFZM
(END) Dow Jones Newswires
September 15, 2023 02:00 ET (06:00 GMT)
Quartix Technologies (LSE:QTX)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Quartix Technologies (LSE:QTX)
Gráfica de Acción Histórica
De May 2023 a May 2024