Hawk Infinity Software AS – Agreement on Acquisition of Minority Stake in Comby

05 Aug 2025 12:58 CEST

Hawk Infinity Software AS (“HIS”) has entered into an agreement for the
acquisition of the remaining 20% of the shares in Comby Group (“Comby”) for NOK
69 million with the majority of the consideration to be settled in shares of
HIS’s parent company, Hawk Infinity AS (“HI”). After the acquisition HIS owns
100% of Comby.

Based in Nuuk, Greenland, Comby is a market leader in the IT-services and
data-security public sector segment in Greenland. The company has demonstrated a
strong track record in winning key public tenders on Greenland due to its focus
on high public tender demands with regards to security and customer service. The
company has shown a strong development since its acquisition by HIS in July-24
and has a pro forma LTM EBITDA of NOK 64 million per end of June-25,
representing a year-over-year increase of 25% in constant currency.

Certain amendments have also been made to the remaining existing future
contingent consideration which is based on relatively ambitious EBITDA and FCF
growth targets. The future contingent consideration is now to be settled fully
in HI shares, while the total possible consideration has been increased
somewhat.

The acquisition will be funded through available liquidity 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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