CDON AB (OM:CDON) completed the acquisition of Fyndiq AB.
April 11, 2023
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CDON AB (OM:CDON) agreed to acquire Fyndiq AB for approximately SEK 740 million on February 16, 2023. The purchase price amounts to approx. SEK 735 million and the Fyndiq sellers will receive shares in CDON as consideration in addition to a small cash component of approx. SEK 7 million. The Fyndiq sellers will receive ordinary shares in CDON as purchase price, save that key employees also will receive a portion of their purchase price for their shares in cash and a portion in the form of incentive shares in CDON that are reclassifiable into ordinary shares in 2027 subject to the fulfilment of a defined performance condition related to the value growth in CDON's ordinary share. Fredrik Norberg, founder and CEO of Fyndiq will be appointed as the CEO of the combined company and Thomas Pehrsson, current CFO and acting CEO of CDON, will be appointed CFO and Deputy CEO. The transaction is expected to be completed during the second quarter of 2023, subject to approval by the shareholders of CDON at an Extraordinary General Meeting to be held on 28 March 2023.Cederquist acted as legal advisor to CDON AB. Vinge acted as legal advisor to Fyndiq.
CDON AB (OM:CDON) Completed the acquisition of Fyndiq AB on April 12, 2023.
Cdon AB is a Sweden-based company that offers the online marketplace. On CDON.com, external merchants sell their products to Nordic consumers. Customers can choose to shop and compare prices on products. The company develops the offer for merchants so that they can have access to technical support for pricing, product enrichment, integrations with other service providers and support for reporting and analysis. The company's operations are divided into two operating segments: the core area CDON Marketplace, whose sales come from third-party sellers and other service revenue, and the complementary business area CDON Retail, whose sales are made directly by CDON via its own warehouse or dropshipment.
CDON AB 
