Gigas Hosting, S.A. (BME:GIGA) acquired AHP - Informática e Serviços, S.A. on October 29, 2019. The consideration includes €1.7 million paid in cash of which 60% was paid on the signing of the agreement, including repayment of a participating loan in the coming days, with the payment of 18% and 22% to be deferred over 12 and 24 months, respectively and another €1 million in 2021, 2022 and 2023, if AHP delivers its specified net recurring revenue targets in Portugal the next three years, which would mean obtaining €2.25 million in 2022 and a CAGR of more than 20% over the next three years. The transaction will be funded fully with available cash on the Gigas's balance sheet and bank debt. In 2018, AHP obtained revenue of €1.2 million and EBITDA of €0.23 million. AHP's current manager, José Ferreira Cruz, will continue to run AHP and AHP's staff will stay. Edgar Faustino acted as legal advisor, Kreston Iberaudit acted as accountant and Crea Inversión acted as financial advisor to Gigas. Gigas Hosting, S.A. (BME:GIGA) completed the acquisition of AHP - Informática e Serviços, S.A. on October 29, 2019.