ADDvise Group AB (publ) (OM:ADDV A) acquired Axelerist, Inc. for $29.4 million on November 22, 2023. The acquisition will be consummated at an initial cash consideration of $20.5 million, a two-year promissory note of $2.7 million, and performance-based payments expected to amount to $6.2 million in aggregate over a two-year period. Axelerist?s revenue for the last twelve months per October 31, 2023, amounted to $8.7 million, with an EBITDA of $4.5 million. ADDvise assesses that the acquisition will have a positive impact on ADDvise?s earnings per share during the financial year 2024.

ADDvise Group AB (publ) (OM:ADDV A) completed the acquisition of Axelerist, Inc. on November 22, 2023.