Hawk Infinity Software AS – Agreements on Acquisitions

13 Nov 2024 13:19 CET

Hawk Infinity Software AS (“HIS”) has entered into agreements for the
acquisition of 100% of Barcontrol Systems AS (“Barcontrol”) and 100% of Osmi BIT
d.o.o. (“OsmiBIT”).

Based in Oslo, Norway, Barcontrol has been a supplier of checkout and logistics
systems to the restaurant industry for over 20 years. The company is a
one-stop-shop for software solutions and assist restaurants all the way with the
choice of cash register solution, from advice and implementation to operation
and support. Barcontrol also develops integrations to connect the checkout
solution with accounting, inventory management, ordering solutions and more.

Headquartered in Zagreb, Croatia, OsmiBIT has been engaged in development,
implementation, and maintenance of software since 1988. With their core
expertise in ERP, Business intelligence, Human Resources and Document Management
systems they serve domestic and multinational companies especially within
retail, wholesale and marina.

The companies have a combined LTM pro forma EBITDA of NOK 11.5m as of September
2024. The acquisitions are closed at an upfront enterprise value of NOK 68m.
Additional contingent consideration will be granted if certain relatively
ambitious free cash flow growth targets are met over the coming years.

The acquisitions will be funded by available liquidity, release from the escrow
account and an equity issue in HIS towards Hawk Infinity AS.

For further information please contact:

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

Lars Fredrik Revling
Chief Financial Officer
Tel: +47 412 22 772
E-mail: lr@hawk.no

More information:
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