Solidx AB (publ) (NGM:SOLIDX) entered into letter of intent to acquire Time People Group AB (publ) (NGM:TPGR) for SEK 140 million on March 4, 2024. The merger is planned to take place through the absorption of TPG by SolidX. SolidX is estimated to have 53% stake and Time People Group is estimated to have 47% stake in new merged entity.

Shareholders of Time People Group will receive 4.4 shares in SolidX for every share in Time People Group. Mangold Fondkommission AB (OM:MANG) acted as financial advisor to Time People Group.