Press release
11 January 2018, 18:30
Sdiptech completes acquisition of Optyma Security Systems Limited
As of today, Sdiptech completes the acquisition of Optyma Security Systems Limited. The agreement to acquire was originally entered into and communicated on 21 December 2017.
Optyma is a principle provider of integrated security systems for public and private environments, including security-classed national infrastructure. Customers are found in sectors such as police, healthcare, transportation and commercial real estate. Net sales for the 2016 financial year amounted to approximately GBP 6.4 million and operating income to approximately GBP 1.1 million.
Sdiptech's total revenue, on an annual basis after the acquisition, amounts to approximately SEK 1,290 million and EBITA on an annual basis to approximately SEK 173 million. For companies that have been under Group ownership for less than a year, the latest annual accounts have been added to the Group's earnings from other companies, based on their outcome in the past four quarters.
Jakob Holm, CEO, Sdiptech, comments:
"Optyma is our first acquisition in London and the UK, in line with Sdiptech's strategy to extend the Group's offer to additional growing cities in Europe. Optyma's offer is well positioned to meet growing demand for security solutions in society. Through Optyma, we also take our first step into building automation, a growing niche market within our focus on urban infrastructure."
John Fitzgerald & Graham Pollard, Optyma Security Systems Limited, comments:
"Through Sdiptech, we enter a new phase in the development of the company. With the help of a long-term owner such as Sdiptech, we can continue to increase our service offering and expanding our business."
The company is valued at GBP 6.3 million on acquisition, and the total purchase consideration, including future performance-based additional purchase considerations over five years, will reach a maximum of GBP 8.2 million, which requires very good growth in operations. In connection with today's acquisition, GBP 4.4 million was paid in cash, while the remaining amount will be recognized as a liability in the Group's consolidated accounts.
Sdiptech AB's ordinary Series B share is traded under the short name SDIP B with ISIN code SE0003756758.
Sdiptech AB's preferred shares are traded under the short name SDIP PREF with ISIN code SE0006758348.
Sdiptech AB's Certified Adviser at Nasdaq First North Stockholm is Erik Penser Bank. Further information is available on the company's website: www.sdiptech.com
For additional information, please contact:
Carl Johan Åkesson, CFO, +46 708 30 70 57, cj.akesson@sdiptech.com
Jakob Holm, CEO, +46 761 61 21 91, jakob.holm@sdiptech.com
Sdiptech AB is a technology group with a primary focus on urban infrastructures. The Group offers deeply niched services and products for both expanding and renovating rapidly growing metropolitan areas. The company is based in Stockholm.
The information was provided, through the care of the above contact persons, for publication 11 January 2018 at 18:30 CET.
