Horizontal Software S.A. signed a letter of intent to acquire FORMAEVA SAS on November 17, 2017. Horizontal Software S.A. (ENXTPA:ALHSW) acquired FORMAEVA SAS for €0.8 million on December 27, 2017. The consideration will be paid entirely through an exchange of securities. FORMAEVA had turnover of €1 million in the year 2016. One hundred two thousand four hundred and thirty-two new shares were issued by Horizontal Software S.A. at €7.81 per unit share. The 14 employees of FORMAEVA including 5 R&D engineers and 3 sales representatives will join Horizontal Software. Part of the teams will strengthen the Yootalent division of Horizontal Software. As such, the founder and director of FORMAEVA will remain fully involved in the group as VP Yootalent Operations. An extraordinary general meeting will be held on December 22, 2017. The final terms of the transaction will be the subject of a subsequent communication as soon as the contribution agreement is signed. Horizontal Software expects the acquisition will contribute positively to Ebitda as early as 2018. The final terms of the transaction were approved by the acquirer shareholders.