Eagle Eye Solutions Group plc (AIM:EYE) agreed to acquire 100% stake in UNTIENOTS SAS for €38.8 million on November 16, 2022. The initial consideration for the Acquisition is €15 million, with €9.1 million payable in cash and €5.9 million in new ordinary shares of Eagle Eye at the Placing Price of 555.0 pence per share, payable on completion of the Acquisition. A further performance-linked earn-out consideration is payable to the selling shareholders of Untie Nots of up to €23.8 million in cash or new ordinary shares in Eagle Eye, or a combination thereof. a Deferred Contingent Consideration of up to €23.8 million, subject to: a. specific revenue targets in FY22 and FY24, with the FY24 target representing revenue growth of approximately 60 per cent. CAGR from FY22 to FY24; and; b. achievement of a minimum EBITDA margin. The Company intends to fund the cash element of the Initial Consideration through existing cash reserves, partial utilization of its undrawn revolving credit facility and the proposed Placing. The Acquisition is conditional, inter alia, upon admission of the Placing Shares to trading on AIM ("Admission") and regulatory approval by the French Ministry of Economy pursuant to the foreign direct investment requirements of the French Monetary and Financial Code, the latter of which is expected to occur between 30 to 75 business days after filing. IN 2021, UNTIENOTS generated revenue of €3 million and EBITDA of -0.4 million and Net assets of €1.6 million. Investec Bank plc acted as advisor to Eagle Eye. Team led by Sebastian Lawrence.Taylor Wessing France acted as legal Advisor to Eagle Eye Solutions Group plc (AIM:EYE). Translink International AG acted as financial advisor to UNTIENOTS SAS.

Eagle Eye Solutions Group plc (AIM:EYE) completed the acquisition of 100% stake in UNTIENOTS SAS on January 3, 2023.