Hawk Infinity Software AS completed acquisitions and equity issue

10 Jul 2024 21:35 CEST

Hawk Infinity Software AS (“HIS”) has on July 9th completed the acquisition of
67% of Digiflow AS (“Digiflow”) and 100% of Sunnsoft Publishing AS (“Sunnsoft”).

Digiflow is one of the fastest-growing IT companies in Norway. Digiflow provides
managed services to the Norwegian SMB market, has its headquarters in Lysaker,
and employs 85 people. Digiflow has strong organic growth, a dedicated workforce
of employees, and aims to have the most satisfied customers in the industry.

Based in Arendal, Norway, Sunnsoft is a market leader in digital solutions for
the healthcare sector. The company has a solid financial track-record of
profitable growth. With more than 20 years’ experience of developing highly
appreciated tools for practitioners and more than 35 000 users, the company is
in a unique position for further development within the healthcare segment.

Digiflow and Sunnsoft have combined LTM revenues of NOK 279m and LTM pro forma
EBITDA of NOK 52.3m as of June 2024, with strong underlying YoY growth on top
line and bottom line. The acquisitions are closed at an upfront enterprise value
of NOK 595m (100% basis). Additional contingent consideration will be granted if
certain free cash flow growth targets are met.

The acquisitions are funded by available liquidity, release from the escrow
account and an equity issue in HIS towards Hawk Infinity AS of NOK 200m.

For further information please contact:

Joakim Stavnes Karlsen
Chief Executive Officer
Tel: +47 483 88 583
E-mail: jk@hawk.no

Ingebrikt Bjørkhaug
Chief Financial Officer
Tel: +47 414 09 442
E-mail: ib@hawk.no

More information:
Access the news on Oslo Bors NewsWeb site

623399_Hawk Infinity Software AS press release 10 July 2024.pdf