Hawk Infinity Software AS – Completion of Acquisitions

15 Jul 2025 21:28 CEST

Hawk Infinity Software AS (“HIS”) has entered into agreements for and closed the
acquisitions of 100% of Sportstiming ApS (“Sportstiming”) and 100% of FBA Indaga
Soft S.L. (“FBA”).

Sportstiming is a software company providing proprietary solutions aimed at the
sports event industry. Founded in 2001, the company is based in Viby, Denmark,
with an organization that has long tenure and solid track-record in the sports
timing and event management industry. Sportstiming has built the business
brick-by-brick and has the leading online platform technology for registration,
timing, and result communication services for events of all types and sizes, as
well as services for race organizers. Both fixed and transactional revenue
streams from the online platform combined with hardware and other services
creates a robust revenue profile with significant upside potential.

FBA, founded in 2000 in Santiago de Compostela (Galicia), is a SaaS technology
solutions company with 20 years of experience developing and providing services
for measuring and managing the experience of patients, doctors and workers. The
company mainly offers its solutions for healthcare institutions, but has also
successfully penetrated other verticals such as customer service companies (B2B)
i.e. gyms, insurance brokers, etc.

The companies acquired have a combined LTM pro forma revenue of 55 MNOK and
EBITDA of 35 MNOK (Sportstiming as per Jun-2025 and FBA as per Apr-2025), with
strong underlying year-over-year growth on top line and bottom line. The
acquisitions are closed at an upfront enterprise value of NOK 288m. A limited
additional contingent consideration will be granted for the acquisitions if
certain relatively ambitious free cash flow growth targets are met over the
coming years, and where a substantial portion of the contingent consideration
can be settled in shares in the parent company of HIS.

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

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