Ctac N.V. (ENXTAM:CTAC) signed a letter of intent to acquire a 75% stake in Oliver IT B.V. on March 3, 2020. Ctac entered into a new letter of intent to acquire 51% stake in Oliver IT on December 28, 2020. Ctac will settle the majority of the acquisition in cash. Ctac is financing the acquisition from its own resources and will not attract additional financing or issue shares, Post deal completion, Gerben Moerland and Martien Merks will continue to work at Oliver and will continue to hold a minority stake in the company. Oliver will continue to operate as an independent part of Ctac once the deal is closed. In 2019, Oliver reported a total revenue of €6 million. The acquisition is expected to be completed in mid-April 2020. As of December 28, 2020, the transaction is expected to complete in mid January 2021. The acquisition will also contribute to Ctac’s EBITDA and earnings per share.