- Deal estimated at €87.9 million, settled 30% in cash and 70% in new Claranova shares
- 4 million new Claranova shares issued (15.87 % of the share capital), with 65% locked-up 1 year
- Accretive EPS impact exceeding 30% over the coming two years
- Deal subject to approval by Claranova shareholders at the Combined Shareholders’ Meeting of December 9, 2019 and presentation of E Document reviewed by the AMF
Claranova group announces the signature of an agreement with Avanquest Canada, Inc. management and minority shareholders to acquire their remaining preferred shares. This Avanquest Software SAS subsidiary holds the Upclick, SodaPDF and Adaware businesses. The agreement provides for the transfer by minority shareholders of 70% of their shares to Claranova for €61.2 million, through the issue of 7.4 million new shares, and the purchase of the remaining balance for a cash consideration of $29.6 million[1]. The proposed deal will be presented to Claranova shareholders for approval at the Combined Shareholders’ Meeting of December 9, 2019.