Cognosec AB (OM:COGS) completed the acquisition of Itway Hellas SL SA & Itway Turkyie Ltd from Itway S.p.A..
In 2017, Itway Hellas SL SA & Itway Turkyie Ltd had aggregate revenue of 26 million and EBITDA of 1.9 million. The acquisition is subject to legal, financial and technology due diligence exercises and customary conditions precedent and is expected to close in second quarter of 2018. Mangold Fondkommission AB acted as financial advisor to Cognosec AB. Gregorio Gitti, Daniele Cusumano, Camilla Ferrari and Francesco Mirizzi of Gitti, Bernitsas Law and Akol Özok Namli Avukatlik Bürosu acted as legal advisors to Itway. Houthoff acted as legal advisor to Cognosec.
Cognosec AB (publ) (OM:COGS) completed the acquisition of Itway Hellas SL SA & Itway Turkyie Ltd from Itway S.p.A. (BIT:ITW) on June 20, 2018. Cyber Security paid a total of 2.6 million in cash and delivered a total of 16,666,666 CYBER1 shares at 0.48 per share to Itway S.p.A.