White Pearl Technology Group AB (OM:WPTG B) signs Letter of Intent to acquire an unknown majority stake in CynoTech (Pty) Ltd for SEK 1.1 million on December 7, 2023. The consideration will pay in cash and shares. CynoTech has reported turnover of over SEK 6 million.

CynoTech will continue to operate under its own brand, led by senior management, with Alastair Barlow as Managing Director and Priya Barlow as Operations Manager. Swedish North Point Securities Ab acted as financial advisor to White Pearl Technology Group AB.