Wiit S.p.A. (BIT:WIIT) agreed to acquire Boreus Gmbh from Jbm Technology Deutschland Gmbh on October 18, 2021. In a related deal, Wiit S.p.A. agreed to acquire Gecko Gesellschaft Fnr Computer Und Kommunikationssysteme M.B.H. The price for the two acquisitions has been set at approx. €77.7 million. The price for the acquisition of Boreus was in part settled through WIIT shares for a value of €10 million and - further to the adjustments based on the net financial position and the working capital at closing - shall be subject to a possible downward adjustment where Boreus in the year to December 31, 2022 does not achieve set core revenue levels. In addition, reciprocal put options in favor of the sellers of Boreus and call options in favor of WIIT are entered into as part of the transaction to permit WIIT to reacquire the WIIT shares which shall represent, in application of the adjustment, the component in kind of the consideration. 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 December 31, 2022. The transaction's closing, which is not subject to conditions precedent, is expected to take place by the end of October 2021. Filippo Pignatti, Daniel Sandler, Cay-Marco Fritsch and Simon Borst of ING Corporate Finance acted as the sole financial advisor, Pedersoli Studio Legale and GSK Stockmann as legal advisor of WIIT and KPMG as tax and accounting advisor. Otto Haberstock, Matthias Bruse, Angelina Seelbach and Moritz Löffler of POELLATH acted as legal advisors to Boreus GmbH in the transaction.

Wiit S.p.A. (BIT:WIIT) completed the acquisition of Boreus Gmbh from Jbm Technology Deutschland Gmbh for €59.8 million on October 18, 2021.