Hawk Infinity Software AS – Agreement on Acquisition

05 Dec 2024 14:02 CET

Hawk Infinity Software AS (“HIS”) has entered into an agreement for the
acquisition of 82,5% of Regla EHF (“Regla”).

Based in Iceland, Regla is a leading SaaS accounting and sales system provider
to small and medium sized businesses in the Icelandic market. The business was
established in 2008 and has grown its license revenue base steadily over many
years with increasing margins. The software offering of Regla is
industry-agnostic, serving customers across a range of industries and
end-markets. Prior to the acquisition, Regla has been owned by the founders who
will retain a minority stake in the company and continue to run the business.

Regla has an LTM pro forma revenue of NOK 44.0m and EBITDA of NOK 18.8m as of
October 2024. The acquisition is closed at an upfront enterprise value of NOK
177m. Additional contingent consideration will be granted if certain relatively
ambitious free cash flow growth targets are met over the coming years.

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

Centra Corporate Finance was advisor to HIS and Arev Securities advised the
owners of Regla on the transaction.

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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