(Alliance News) - Almawave Spa announced on Wednesday that its subsidiary The Data Appeal Company Spa has signed a binding agreement to acquire 70 percent of the share capital of Mabrian Technologies SL, a company based in Spain-Minorca and Barcelona-active in the development of solutions in the Travel and Destination Intelligence fields and focused on innovative data analytics and decision intelligence AI KPI's.

The deal involves The Data Appeal's purchase of 70 percent, in cash, of Mabrian's share capital. The price paid, amounting to approximately EUR3.7 million, was agreed on the basis of an enterprise value of EUR6.1 million and will be subject to adjustment on the closing date based on the final net financial position. The deal also provides for the possible recognition of an earn-out, amounting to a maximum of EUR1.5 million, upon the achievement of specific outstanding economic and financial performance, to be recognized following the approval of the 2023 financial statements.

The company indicated that the transaction will be financed entirely through the use of Almawave Group's own resources.

The remaining 30 percent of Mabrian's capital may be acquired through an option exercisable in 2026, subject to the occurrence of certain predefined economic and operational conditions.

Almawave trades in the green by 1.0 percent at EUR3.94 per share.

By Claudia Cavaliere, Alliance News reporter

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