Xytech Systems Corporation signed an agreement to acquire VizuAll, Inc. from Net Insight AB (publ) (OM:NETI B) for $6 million on February 24, 2021. The transaction involves divestment of 100% of the shares in the wholly owned VizuAll subsidiaries on a cash and debt free basis for a total transaction value of $6 million, with $3 million in cash at closing and the remainder as a promissory note payable over the next 12-18 months. VizuAll had net sales of SEK 67.2 million ($8,110,440) and operating earnings of SEK 4.1 million ($494,834) for the financial year 2020. Xytech will continue to support the ScheduALL application and all ScheduALL clients. They will also retain the ScheduAll office in Florida. The transaction is expected to be completed in the coming weeks, subject to satisfaction of customary closing conditions. The transaction will have a positive net earnings effect on Group level of estimated SEK 35-45 million ($4,103,500-$5,431,100). Kristina Ekberg, Ulrich Ziche, Stojan Arnerstål and Rikard Lindahl of Vinge acted as legal advisor to Net Insight AB (publ). Greenhill & Co., Inc. (NYSE:GHL) acted as a financial advisor to Net Insight AB (publ) (OM:NETI B).

Xytech Systems Corporation completed the acquisition of VizuAll, Inc. from Net Insight AB (publ) (OM:NETI B) on April 1, 2021.