Otovo AS (OTCNO:OTOVO) acquired In Sun We Trust from three founders and others for €3.7 million on March 11, 2019. Of the consideration to be paid to the founders, 80% amount will be paid in Otovo shares, 10% in cash, while the remaining 10% after half a year. Other sellers will receive 90% of the consideration in equity, and 10% in cash. The three founders of In Sun We Trust will continue to steer the business. There are currently 14 employees in ISWT, while the merged company will have 65 employees, with offices in Paris, Oslo and Stockholm. The acquisition is expected to add value to Otovo's shareholders. Jean-Gabriel Flandrois, Alexandre Heydel and Magali Buchert of Gide Loyrette Nouel A.A.R.P.I. acted as legal advisior for Otovo AS. Sparre-Enger Clausen and Kai-Ståle Kristiansen of Thommessen Krefting Greve Lund AS acted as legal advisor for Otovo AS. Otovo AS (OTCNO:OTOVO) completed the acquisition of In Sun We Trust from three founders and others on March 11, 2019. In Sun We Trust SAS certain of the sellers of the shares in In Sun We Trust SAS are entitled to receive additional consideration depending on the fulfilment by In Sun We Trust SAS of certain defined sales criteria in France. €2.5 million subject to fulfilment of certain sales criteria between March 1, 2020 to February 28, 2021. Approximately €0.4 Million subject to fulfilment of certain sales criteria between March 1, 2021 to September 30, 2021. Approximately €0.4 Million subject to fulfilment of certain sales criteria in Q4 2020. The earn-out consideration shall, in each case, be made partly in cash (10%) and partly in consideration shares (ordinary shares) in the Company (90%), unless otherwise agreed between the parties. The value of the consideration shares shall be an amount in Euros equal to the volume weighted NOTC share price for the last €1 million equivalent of the shares of the Company traded up until 28th February 2021 (excluding certain founders' shares), with certain modifications if the volume of Company shares traded on NOTC in said period is less than €1 million and in the event of a liquidity event after January 1, 2021(including an IPO or a sale of 50% of more of the Company)