Gofore Oyj (HLSE:GOFORE) acquired Devecto Oy for approximately €25.23 million on January 3, 2022. The purchase price of the share capital consists the debt-free price of the business operations of €20 million, and the compensation payable for the net cash and working capital adjustment, approximately €1 million. Gofore Plc will pay 70% of the purchase price in cash and 30% in the form of share consideration by issuing 271,958 new shares at the price of €23.22. An earnout of €5 million has been argeed upon, subject to Devecto's profit in 2022 and will be paid in cash in the first half of 2023. Devecto employs 130 professionals in Jyväskylä, Espoo, Tampere, Oulu and Kajaani. One of the two founders of Devecto Oy, Harri Laukkanen, will assume the role of the Managing Director of Devecto and the former Managing Director and the other founder Pasi Salonen will continue in the company to support the integration.

Gofore Oyj (HLSE:GOFORE) completed the acquisition of Devecto Oy on January 3, 2022. As per update on January 4, 2022, Oaklins Merasco Oy acted as financial and strategic advisor to Devecto Oy.