ENENSYS Technologies SA (ENXTPA:ALNN6) acquired Expway SA for €4.6 million on January 7, 2019. Under the terms, ENENSYS will pay €2.7 million in cash with the balance via the issue of 0.28 million new ENENSYS Technologies shares at a value of €6.71 per share. The acquisition price is subject to an earn-out provision based on sales generated in 2019 by Expway in the LTE Broadcast or 5G sector. The earn-out amounts to 80% of the amount of sales exceeding €4.5 million. Subject to shareholder approval, the additional consideration will be paid all or in part in new ENENSYS Technologies shares, based on a share price of €6.71, in respect of the portion of sales between €4.5 million and €5.25 million, and up to 50% in cash and no more than 50% in new ENENSYS Technologies shares in respect of the portion of sales exceeding €5.25 million. As part of the deal, ENENSYS Technologies will also acquire the convertible bonds, ordinary bonds and advances carried on Expway's balance total at a total value of €4.7 million. ENENSYS Technologies will carry out payment of these shares and advances through tendering 0.67 million ENENSYS convertible bonds that may be converted at any time until December 31, 2021. The new shares have a minimum lock-in period of 15 months as from delivery. ENENSYS Technologies SA (ENXTPA:ALNN6) completed the acquisition of Expway SA on January 7, 2019.