JS Security Technologies Group AB agreed to acquire Stonebeach Ab from Mårten Bergsten, Tommy Hammarström, Fredrik Sundman and Johan Fjeld for SEK 4 million.

JS Security Technologies Group AB (NGM:JSSEC) agreed to acquire Stonebeach Ab from Mårten Bergsten, Tommy Hammarström, Fredrik Sundman and Johan Fjeld for SEK 4 million on December 10, 2021. Consideration will be paid in shares paid in shares in JS Security Technologies Group AB. Price per share is SEK 7.18.

The additional purchase price can be paid to the seller depending on performance during the 24 months from access. The sellers will continue to work in Stonebeach and will with this transaction be subject to lockup agreements until 12 months have elapsed from the date of entry. The transaction is expected to be closed by February 1, 2022.

In 2020, StoneBeach generated revenue of SEK 4 million with an EBITDA result of SEK 0.034 million.