Infront ASA (OB:INFRNT) signed a binding agreement to acquire vwd Vereinigte Wirtschaftsdienste AG from Carlyle Europe Technology Partners II, L.P., fund managed by The Carlyle Group L.P. (NasdaqGS:CG) for an enterprise value of €130 million on April 11, 2019. The purchase price shall be paid in cash upon completion of the transaction. Infront proposes to finance the acquisition of VWD through a combination of new equity and a new senior secured bond issue. The rights issue is fully underwritten by a syndicate consisting of ABG Sundal Collier ASA, Danske Bank, Norwegian Branch, Lindeman AS, Nesbak AS, FLKX Capital AS, Gujac Holding AS and Benjamin Røer. The senior secured bond issue of €105 million is fully underwritten by a syndicate consisting of ABG Sundal Collier ASA and Danske Bank, Norwegian Branch. VWD's management team will be fully integrated in the new joint executive team and thereby will continue to be the relevant contacts for all VWD customers and business partners. vwd Vereinigte Wirtschaftsdienste AG reported total assets of €150.6 million, equity of €43.1 million, net sales of €74.2 million and adjusted EBITDA (including non core) of €11.3 million. The transaction is subject to approval from the relevant antitrust and financial regulatory authorities. As of July 10, 2019, Infront ASA has received regulatory clearance from the German Financial Supervisory Authority, BaFin – Bundesanstalt für Finanzdienstleistungsaufsicht. The clearance was required on the basis that vwd TransactionSolutions AG, a subsidiary of VWD, holds a license for the provision of financial services. The deal is expected to complete in the second quarter of 2019. As of July 10, 2019, subsequent to receiving the regulatory clearance, Infront ASA expects to complete the acquisition of VWD on or about July 17, 2019.

Infront ASA expect significant long-term synergies beyond consolidating data feeds and licenses. ABG Sundal Collier acted as financial advisor, Thomas G. Michelet, Remi Dramstad and Jon Fredrik Johansen of Advokatfirmaet Selmer DA, Pascal Hubli and Karin Mülchi of Schellenberg Wittmer, Nicola Martegani and Gerardo Gabrielli of Gattai, Minoli, Agostinelli & Partners and Kai Kerger, Ann-Kristin Asmuß, Michael Jünemann, Johannes Wirtz, Inga Kerner, Chyngyz Timur, Michael Maier, Julia Fröhder, Barbara Geck, Florian Kessenich, Jörg-Alexander Paul, Holger Niedenführ, Mascha Grundmann, Pauline Vos, Marinke Moeliker, Annemarieke van Vlodrop, Karen Berg, Paul Hermant, Cedric Berckmans and Anton Aerts of Bird & Bird LLP, Germany acted as legal advisors for Infront ASA. Raymond James Financial, Inc. (NYSE:RJF) acted as financial advisor and Andreas Fuechsel, Konrad Rohde, Dennis Kunschke, Roland Maaß, Thilo von Bodungen, Fabian Klein, Semin O, Raimund Behnes, Kristin Vogt-Schories, Elena Bachmann, Andreas Habig, Nadine Hesser, Thomas Olbrich, Olga Blaszczyk, Eda Altintas, Theresa Wegener, Philipp Groll, Christian Marzlin, David Klock, Anastasia Schreiber, Erwin Simons, Jacques Wantz and Emre Akan of DLA Piper Germany acted as legal advisors for The Carlyle Group L.P. Ernst & Young LLP acted as due diligence provider to The Carlyle Group L.P.