AKVA group ASA (OB:AKVA) acquired remaining 66.31% stake in Observe Technologies Limited for £34.2 million.
July 04, 2024
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AKVA group ASA (OB:AKVA) acquired remaining 66.31% stake in Observe Technologies Limited for £34.2 million on July 5, 2024. Prior to the transaction AKVA held 33.69% stake in Observe Technologies, following the acquisition AKVA now holds 100% in Observe Technologies. The minimum purchase price for the 66.31% of the shares of £13.7 million, has partly been settled by cash consideration, and partly by way of a sellers? credit that will be settled in instalments to be paid over the next three years. Furthermore, an additional consideration and earn out consideration up to a maximum total purchase price of £20.5 million will be paid if certain conditions are met. The cash amount paid by AKVA at closing has been financed by utilizing options under AKVA's existing bank financing.
AKVA group ASA (OB:AKVA) completed the acquisition of remaining 66.31% stake in Observe Technologies Limited on July 5, 2024.
Akva Group ASA is a Norway-based supplier of solutions and services to the global aquaculture industry. Its activities include design, purchase, manufacturing, assembly, sale and installation of technology products as well as rental, service and consulting services. The Company divides its operations into three business segments: Sea Based Technology (SBT), Digital and Land Based Technology (LBT). The SBT main products include Polarcirkel, Wavemaster and Akvasmart hardware brands such as: Plastic cages, steel cages, feed barges, feed systems, sensor- and camera systems, underwater lights and net cleaning systems. The LBT provides technology for water treatment technology. Main components used include mechanical filters, UV treatment, bio filters, degasser units, oxygenation, cooling/heating systems and lifting pumps. The Digital software include brands such as: Production control, planning, traceability, and ERP software for both the aquaculture and the fishing industry.
AKVA GROUP ASA 
