Lemonsoft Oyj (HLSE:LEMON) acquired Applirent Oy for ?2.80 million on July 1, 2024. The purchase price for the share capital of Applirent Oy is approximately ?2.3 million, and the net debt-free enterprise value is ?2.0 million. The purchase price will be paid 75% in cash and 25% in shares at closing. In addition, the parties have agreed on an additional purchase price based on Applirent Oy?s EBIT for the years 2024-2026. The additional purchase price amounts to a maximum of ?0.8 million, and if realized, will be paid fully in cash.

For the period ending October 31, 2023, Applirent Oy reported total revenue of ?0.8 million. As of October 31, 2023, Applirent Oy?s net cash was approximately ?0.3 million. The company?s founders Tuomas Niemi, Antti Lehikoinen, and Vesa Harjunen will continue to work for Applirent Oy, with Tuomas Niemi continuing as CEO.

Lemonsoft Oyj (HLSE:LEMON) completed the acquisition of Applirent Oy on July 1, 2024.