INVL Technology completed assessment of M&A intermediaries and chose a service provider
18 Marzo 2024 - 8:45AM
UK Regulatory
INVL Technology completed assessment of M&A intermediaries and
chose a service provider
INVL Technology (hereinafter – the Company)
gives notification that it has completed a selection process for
potential providers of M&A intermediary services. Based on the
main selection criteria, on 18 March 2024 the Company signed an
agreement with a company of the Corum group, specifically, the
Zurich branch of Luxembourg-based Corum Group International
S.à.r.l., to act as an M&A intermediary in seeking to conclude
transactions for the sale of the entire portfolio of businesses
under management by INVL Technology before the end of the Company’s
envisaged period of operation.
The M&A intermediary with whom the Company
has signed an agreement is an experienced industry expert in merger
and acquisition services specializing in work with software and
information technology companies, with an extensive contact network
of potential buyers around the world and the ability to provide the
Company with strategic support in the sale of the businesses it
holds under management.
The duration of the agreement is tied to the end
of the Company's period of operation, which is mid-July 2026. The
remuneration payable to the service provider for services rendered
consists of two parts: a fixed fee and a success fee. The success
fee is specified in percentage terms; its amount will depend on the
price of the assets sold. Under the agreement with Corum Group
International, the fee’s size and manner of calculation are
confidential information.
When specific sales of businesses under
management are completed and an obligation arises to pay a success
fee to the selected M&A intermediary, that will be communicated
separately, disclosing the material details of the transaction,
including the final cost of the success fee.
Additional information:
INVL Technology, a company that invests in IT
businesses, has chosen M&A intermediation service provider
Corum Group’s Luxembourg-based unit, Corum Group International, to
advise and serve as M&A intermediary on the sale of the
company’s portfolio of businesses. INVL Technology, which is
managed by INVL Asset Management, the leading alternative asset
manager in the Baltics, is a closed-end investment company which
must exit its investments no later than mid-July 2026 and
distribute the money to shareholders.
“As the end of the investment company’s
operation term approaches, we are bringing in an M&A
intermediary to help us sell the portfolio companies at the maximum
price. Our choice is based on Corum Group International’s
experience and expertise in M&A transactions, including the
sale of companies in the IT sector, and its extensive network of
potential buyers around the world,” says Kazimieras Tonkūnas, the
Managing Partner of INVL Technology.
In selecting the intermediation service
provider, INVL Technology also noted its ability to accurately
value IT sector businesses in terms of market trends, financial
performance and growth potential, as well as its the experience and
professionalism of Corum Group International's team in Europe and
the US.
“We are impressed by the quality of the IT
services and cybersecurity assets that INVL Technology has under
management and honoured to advise the company in seeking the best
buyers for those assets,” says Jaber Tannay, Senior Vice President
at Corum Group.
A contract with the Zurich branch of Corum Group
International was signed on 18 March 2024.
Under the agreement, the remuneration payable to
Corum Group International for services rendered consists of a fixed
fee and a success fee. The success fee, which is specified in
percentage terms, will depend on the price of the assets sold.
Under the agreement with Corum Group International, the fee’s size
and manner of calculation are confidential.
Corum Group is an expert and leader in merger
and acquisition services, specialising in servicing the technology
sector worldwide, with a heavy focus on software and IT services
companies. It has an extensive network of potential buyers all over
the world and a team of experienced senior investment advisors, all
of whom are former executives of technology companies. The Corum
Group has experience providing strategic support in the sale of
portfolio companies.
INVL Technology’s businesses under management
include the cybersecurity company NRD Cyber Security, the GovTech
company NRD Companies and the Baltic IT company Novian.
The aggregated revenues of INVL Technology’s
portfolio companies in three quarters of 2023 totalled EUR 42.29
million and were 28.5% more than in the same period of 2022. Their
gross profit grew 25.6% in the same period of comparison to EUR
11.54 million, while their aggregated EBITDA rose 83.8% to EUR 1.56
million.
The shares of INVL Technology are traded on the
secondary list of the Nasdaq Vilnius stock exchange (INC1L).
The person authorized to provide additional information:
Kazimieras Tonkūnas
INVL Technology Managing Partner
E-mail k.tonkunas@invltechnology.lt
Grafico Azioni Invl Technology Ab (LSE:0R60)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Invl Technology Ab (LSE:0R60)
Storico
Da Dic 2023 a Dic 2024
