Wiit S.p.A. (BIT:WIIT) agreed to acquire Gecko Gesellschaft Fnr Computer Und Kommunikationssysteme M.B.H. from Jbm Technology Deutschland Gmbh on October 18, 2021. In a related deal Wiit S.p.A. (BIT:WIIT) also acquired Boreus GmbH. The price for the two acquisitions has been set at approx.

€77.7 million. The price established for the acquisition of Gecko shall be fully paid in cash on closing. Subject to adjustments based on the net financial position and the working capital level at closing.

The current year is expected to end with revenues of €13.5 million, EBITDA of €3.3 million, equal to 24.4% of the revenues and EBIT of €3.2 million, equal to 23.7% of the revenues. It has been agreed that the management of Boreus and Gecko will continue their operations in continuity with the past and with regards to Boreus at least until the approval of the financial statements at 31 December 2022, with the objective to manage the integration of the business of Boreus and Gecko into the WIIT Group and to continue to develop the German market. The Transaction's closing, which is not subject to conditions precedent, is expected to take place by the end of October.