QBNK Holding AB (publ) (OM:QBNK) signed a letter of intent to acquire Exigus AB from Pontus Uggla AB for SEK 3.3 million in cash and stock on October 22, 2015. The terms of the transaction include a fixed purchase price comprising SEK 0.26 million in cash for 11 shares of Exigus and shares of QBNK for the remaining 89 shares of Exigus. An additional consideration of SEK 1 million will be paid in case the net turnover of Exigus for the period that is 12 months from the possession day amounts to the same net turnover as the fiscal year 2014. Pontus Uggla has 12 months lock-up on the sale of the consideration shares. Exigus' current Chief Executive Officer, Pontus Uggla will remain in his position after the acquisition. The transaction is expected to be completed by November 1, 2015.

QBNK Holding AB (publ) (OM:QBNK) completed the acquisition of Exigus AB from Pontus Uggla AB on November 25, 2015.