StrongPoint ASA (OB:STRO) agreed to acquire 100% stake in Brand ID Hamari Group Oy on July 3, 2023. The purchase consideration will be paid 60% in cash and 40% will pay through shares of StrongPoint ASA with a possible extra earn-out based on the financial accounts for the fiscal years 2023 and 2024. The Consideration Shares will be funded by treasury shares and will be subject to a two year lock-up period starting from the closing date. Brand ID Hamari Group generated the revenue of ?1.5 million for the year ended 2022. The deal is subject to certain conditions set out in the share purchase agreement and a successful due diligence process. This deal is expected to close by October 31, 2023.

StrongPoint ASA (OB:STRO) completed the acquisition of 100% stake in Brand ID Hamari Group Oy for ?0.45 million on October 31, 2023.The purchase price of ?0.3 million is paid with potential customary closing balance sheet adjustments. The purchase price has been settled 47% in cash and 53% in shares in StrongPoint, with a possible extra earn-out of up to ?0.15 million based on conditions related to financial performance for the fiscal years 2023 and 2024. The Consideration Shares are funded by treasury shares and are subject to a two-year lock-up period from closing.