Gigas Hosting, S.A. (BME:GIGA) signed a binding agreement to acquire WINREASON S.A from Gaea Inversión for €52.2 million on November 7, 2020. The transaction price has been set at €40 million, of which approximately 38% will be paid in cash and 62% in stock. The payment in shares will require around 4 million of newly issued Gigas shares. GIGAS will assume ONI’s existing debt of around €3 million. Cash consideration will be paid using proceeds from the two monetary capital increases. In a related transaction, GAEA Inversion will acquire remaining stake control of ONITELECOM - Infocomunicações S.A. The current Chief Executive Officer and Chief Technical Officer of ONI (Nuno Saraiva and Carlos Pereira) will continue to lead the project in Portugal. The transaction is subject to approval by Portuguese antitrust authorities. As on January 25, 2021, the transaction is approved by Portuguese antitrust authorities. As of February 1, 2021, the transaction has been unanimously approved by the Board of Directors of Gigas Hosting. The deal is approved by the country's regulatory. The projected to close in early 2021. Ernst & Young Corporate Services acted as financial advisor to Gigas Hosting. Ricardo Reigada Pereira - Sociedade de Advogados acted as legal advisor to Gigas Hosting. Q Advisors LLC acted as financial advisor to Gaea Inversión. PricewaterhouseCoopers LLP acted as an adviser and Sousa Ferro & Associados acted as a legal adviser to Gigas Hosting.