Siili Solutions Oyj (HLSE:SIILI) signed an agreement to acquire 55% stake in Supercharge Kft for €9.2 million on December 4, 2020. The debt-free purchase price amounts to a maximum of €9.2 million. The two companies will remain separate entities. Supercharge reported revenue of €7.6 million and EBITDA of €1.8 million in 2019. Supercharge will rely on it’s Budapest office as a primary development hub. The transaction is subject to the approval of the Hungarian Ministry of Innovation and Technology. The transaction is expected to be completed by February 2021 at the latest. With the acquisition, Siili will significantly increase its state-of-the-art innovation, concept and mobile application expertise. Oliver Nemes, Berend Yntema and Juha Raunio of Clairfield International acted as financial advisor to Supercharge Kft.