Claranova SE (ENXTPA:CLA) entered into a binding agreement to acquire Pdfforge Gmbh for €24.5 million on April 4, 2022. Fully financed in cash, the Acquisition provides for an initial payment of €19m on the closing date and €5.5m at the end of the one-year anniversary date. The company’s two co-founders and sole shareholders, Mr. Philip Chinery and Mr. Frank Heindörfer, will continue to manage the PDF forge business as part of the Avanquest division to ensure its successful integration and continuing development. The closing date for this acquisition is expected to be no later than June 15, 2022, subject to the fulfillment of the usual conditions precedent. Baker & Mckenzie Rechtsanwaltsgesellschaft DÜSseldorf Mbh acted as legal advisor for Pdfforge Gmbh. Berthold Hummel of Baker McKenzie acted as legal advisor to Avanquest.

Claranova SE (ENXTPA:CLA) completed the acquisition of Pdfforge Gmbh on July 4, 2022. This acquisition was financed by funding2 provided by Landesbank Saar, Caisse d'Epargne Ile-de-France, BPI France, Banque Populaire Grand Est and the asset management company, Delta AM.