Romanian computer software developer Lifetime is Really hard to acquire Innobyte Remedies for approximated 1.85 mln euro

BUCHAREST (Romania), May perhaps 18 (SeeNews) – Romanian computer software developer Existence is Tricky [BSE:LIH] claimed on Tuesday that it has signed a agreement for the takeover of local e-commerce alternatives developer Innobyte Options for an estimated 9.132 million lei ($2.26 million/1.85 million euro).

The transaction is estimated to be completed on June 30, soon after all preliminary processes are fulfilled, Life is Really hard claimed in a assertion submitted with the Bucharest Stock Trade, BVB.

The selling price was believed dependent on EBITDA acquired through 2018-2020 and predicted for 2021. In accordance to the arrangement, the ultimate price of the shares will be identified in 2022 centered on the EBITDA accomplished in 2021.

The last amount of money will be paid in two tranches, on Could 26 and on April 30, 2022.

Subsequent the deal, Everyday living is Tricky aims to complement its portfolio with net progress services tailored for tiny and medium-sized companies, it explained in January, when asserting the transaction.

Founded in 2009 in Bucharest, Innobyte Answers posted in the initially quarter a turnover of 483,500 euro ($592,900), up 40% on the calendar year, and an EBITDA of 46,000 euro, up by an once-a-year 24%.

Everyday living is Hard was proven in 2004 in the northwestern city of Cluj and is listed on the option investing program of Bucharest Stock Exchange, AeRO.

Shares of Lifetime is Challenging traded 11.76% greater at 12.35 lei ($3.06/ 2.5 euro) on the BVB as at 1418 CET on Tuesday.

($= .8185 euro)