(Finance) – Powersoftgroup listed on Euronext Growth Milan and active in audio amplification systems, signal treatment and transduction systems for the pro-audio sector, communicated that the closing of the operation announced in February and relating toAcquisition from HP Sound Equipment of 51% of K-Arraya company specialized in the design and production of innovative audio systems with high performance and compact design for a wide range of applications.
“I am satisfied with the positive conclusion of this operation and really happy to welcome K -Array within our group – said theTo Luca Lastrucci – This acquisition represents a strategic step of great importance for Poweersoft, which thus further consolidates its position in the global professional audio market. The innovation and distinctive skills of K-Array will strengthen our technological ecosystem and will contribute positively to our transformation from Product Company to Solution Provider. We could thus accelerate the development of cutting -edge solutions, able to respond more effectively to the changing needs of a market that becomes increasingly demanding and selective. It is a fundamental goal in our path of growth and innovation, which projects us to new challenges and greater opportunities, with a vision – I believe – even more ambitious for the future “.
The consideration For the acquisition of the K-Array participation it is equal to approximately 22.3 million euroscalculated on an Enterprise Value of 100% K-Array of 50 million, adjusted for a net financial position estimated at closing of approximately 6.3 million. In execution of the provisions of the agreements, the 300,000 newly issued PowerSorsoft shares that HP Sound has committed to subscribing By reinvestment of part of the consideration, for the purposes of the agreements, to a value of 16,6976 euros per share (i.e. the arithmetic average of the official price of the PowerSorsoft title in the 30 days prior to the closing date) have been enhanced.
As already anticipated, the agreements also provide for the concession to PowerSoft of a Call option on the remaining 49% of the share capital of K-Array exerted within 60 days of approval of the K-Array budget at 31 December 2030; And the HP Sound concession of a Put option on the same 49% of the share capital of K-Array exerted from 61 to the 120th day following the approval of the K-Array budget at 31 December 2030, if Poweersoft has not exercised the call option.