ASIAKASTIETO GROUP PLC, STOCK EXCHANGE RELEASE 1 JULY 2019 AT 1.30 P.M. EEST
Asiakastieto Group completes Proff acquisition
Asiakastieto Group has today completed the acquisition disclosed on 20 May 2019 of the entire share capital of the company information service Proff in Norway, Sweden and Denmark from the owner Eniro. The purchase consideration for the acquisition was SEK 120 million, which was paid in cash in one instalment. A 5 percent per annum interest calculated for the period between 1 January 2019 and 1 July 2019 was added to the purchase consideration. The interest payable at completion was approximately SEK 3 million.
The transaction will consolidate Asiakastieto’s position in the market as the leading provider of company information services in the Nordic countries. The company information services of Proff in Norway, Sweden and Denmark have altogether approximately three million unique visitors on a monthly level, and the freemium company information services offered by it are equivalent to Asiakastieto’s allabolag.se service in Sweden and asiakastieto.fi/yritykset service in Finland. The Proff companies’ net sales in 2018 amounted to approximately SEK 101 million, and they employ approximately 60 persons. Proff is an internet-based service for free-of-charge company and financial information, the business of which is based on the visibility purchased by companies, display advertising and a subscription-based revenue model.
Asiakastieto Group expects the corporate acquisition to add value by creating the leading Nordic company information service and synergy opportunities, which are expected to lead to faster growth and improved cost efficiency. The objective is to achieve annual synergy benefits of at least SEK 8 million, expected to be realised to the full extent by the year 2021. The corporate acquisition strengthens Asiakastieto’s service offering to SMEs, simultaneously supporting the company’s growth strategy.
ASIAKASTIETO GROUP PLC
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Nasdaq Helsinki Ltd
Asiakastieto Group is one of the leading providers of digital business and consumer information services in the Nordic countries. The Group's products and services are primarily used for risk management, finance and administration, decision-making and sales and marketing purposes. We are operating in Finland under the brand Suomen Asiakastieto and in Sweden under the brand UC. Our pro forma annual net sales for 2018 was EUR 134 million and the number of employees was approximately 450. The Group serves several industries, the largest ones including finance and banking as well as wholesale and retail sectors and expert service companies. Asiakastieto Group is listed on Nasdaq Helsinki with the trading code ATG1V. More information about Asiakastieto Group is available at www.asiakastieto.fi and www.uc.se.