TargetEveryOne finalizes acquisition and receive SEK 15.7 million through guaranteed shares issue at a price of SEK 5 per share

TargetEveryOne informed on June 17 2015, that the company had entered into an agreement with Holton Estate AS to acquire 57 per cent of the shares in ViaNett AS for SEK 35.4 million including additional cash payments.

The purchase price consisted of an initial cash payment of NOK 5 million, and SEK 26.1 million in the form of a debt certificate which would be offset against 25 per cent ownership by a new shares issue of 5 225, 000 shares in TargetEveryOne AB at the price SEK 5 per share. The acquisition was, among others, conditional up on TargetEveryOne receiving sufficient capital to finance the purchase. Through subscriptions and guarantors has the company secured this funding and completed the acquisition.

The Board has therefore, in accordance with the AGM's authorization decided on a directed shares issue to Holton Estate AS at a price of SEK 5 per share. The takeover of the shares in ViaNett AS has occurred and Holton Estate has subscribed to the shares in TargetEveryOne. In addition, TargetEveryOne will pay NOK 5 million on November 30^th 2015 and NOK 4 million on June 30^th 2016.

The Board therefore intends to, in accordance with the AGM´s authorization, to decide on a new shares issue with preferential rights for shareholders in TargetEveryOne AB (publ) of SEK15.7 million at a subscription price of SEK 5 per share. The shares issue is fully guaranteed by subscription undertakings and guarantors and will be done during October/November 2015. More information regarding the new shares issue will be published when the Board makes the formal decision.

"We knew from the beginning that the purchase of ViaNett would be a win-win for both parties. This perception has been further validated during these last months. To so quickly, in an acquisition, generate business together is rare and has attracted new and valuable investors with extensive experience in company development. Guarantor commitments are made at a premium over the current share price and underlines the strength of the deal with ViaNett and shows a belief in TargetEveryOne´s future”, says TargetEveryOne´s CEO Christoffer Andersson. "Now we can deliver on the synergies and make the combined company profitable."

As of July 1^st, 2015 ViaNett is consolidated into TargetEveryOne financially and ViaNett´s CEO, Stian Skoglund is part of TargetEveryOne´s Group.

”Already we have seen that our customers have purchased TargetEveryOne´s service and that it complements ViaNetts´ strengths in quality and scalability very well," says ViaNett AS CEO, Stian Skoglund. "ViaNett has a profitable business and we will now be able to expand it further by providing more value to our customers”.