Lleida.net agrees to buy electronic signature company inDenova for 7.1 million euros

Rhea-AI Summary

Lleida.net has agreed to acquire electronic signature solutions company inDenova for 7.1 million euros. This strategic move marks Lleida.net's first acquisition under its new growth strategy, aimed at enhancing profitability for shareholders. The acquisition is expected to increase the company's EBITDA by over 3.95 million euros based on 2020 data and expand its workforce by 70%, adding new teams in Valencia, Bogota, and Lima. inDenova specializes in electronic signature and invoicing services across several countries.

Positive

• Acquisition of inDenova for 7.1 million euros enhances market position.
• Expected increase in aggregate EBITDA by over 3.95 million euros.
• Staff expansion by 70%, adding over 170 employees.

Negative

• None.

BARCELONA, Spain, June 30, 2021 /PRNewswire/ -- Technology services company Lleida.net (BME: LLN) (OTCQX: LLEIF) (EPA: ALLLN) has reached an agreement to acquire 100% of the electronic signature solutions company inDenova for 7.1 million euros.

Both companies are Spanish.

The deal (which was agreed upon yesterday during the Mobile World Congress in Barcelona, by Lleida.net CEO Sisco Sapena and inDenova COO Jordi Gisbert) is the first acquisition by the Spanish listed company as part of its new inorganic growth strategy.

"The acquisition of inDenova represents a step forward in the company's growth but, more than that, it means having once again fulfilled the promise we have made time and again to our shareholders to protect their interests and generate profitability for them," explained Sapena.

Last February, Lleida.net announced its intention to enter the capital of companies that could add value to its growth plans, and that were complementary to its service offer.

As a result of this purchase, Lleida.net's aggregate EBITDA would grow over 3.95 million euros, taking 2020 data as a reference.

With the investment, Lleida.net staff would grow by 70 percent, over 170 employees, with new teams in Valencia, Bogota and Lima.

inDenova has specialised for the last decade and a half in providing electronic signature, electronic invoicing and process automation services.

It has clients in Spain, Morocco, Colombia, Peru, Chile and Paraguay.

Lleida.net, which is listed in New York, Paris and Madrid, is the European leader in the certified electronic signature, notification and contracting industry.

It holds more than 205 patents in electronic contracting and notification, granted by more than 60 countries on five continents, and its intellectual property portfolio is one of the largest in the industry worldwide.

Currently, more than 75 countries recognise the legal validity of its electronic methods as a means of certifying legal notices in procurement processes.

Bondo Advisors has advised on the transaction, which is pending due diligence.

Contact:

The Paloma Project,
Media, rpl@thepalomaproject.com,
+356 7946 7486

View original content:https://www.prnewswire.com/news-releases/lleidanet-agrees-to-buy-electronic-signature-company-indenova-for-7-1-million-euros-301323424.html

SOURCE Lleida.net

FAQ

What is Lleida.net's recent acquisition?

Lleida.net has acquired inDenova for 7.1 million euros.

How will the acquisition of inDenova affect Lleida.net's EBITDA?

The acquisition is expected to increase Lleida.net's aggregate EBITDA by over 3.95 million euros.

When was the acquisition of inDenova announced?

The acquisition was announced on June 30, 2021, during the Mobile World Congress.

What are the benefits of Lleida.net acquiring inDenova?

The acquisition enhances market position, increases EBITDA, and expands staff significantly.

Where will Lleida.net expand its teams after acquiring inDenova?

Lleida.net will expand its teams in Valencia, Bogota, and Lima.