Smart Eye completes the acquisition of iMotions

Rhea-AI Summary

Smart Eye has completed the acquisition of iMotions, a provider of software for human behavior research, as announced on October 26, 2021. The acquisition cost approximately MSEK 403, with MSEK 201 paid in newly issued shares and MSEK 202 in cash. This deal increases Smart Eye's share capital by SEK 101,949.30, representing about 4.60% of its capital. CEO Martin Krantz highlights that the acquisition positions Smart Eye to enhance its offerings in the automotive industry by integrating multimodal analysis software to its existing technology.

Positive

• Acquisition enhances Smart Eye's software capabilities in human behavior research.
• Strategic positioning in the growing automotive industry for multimodal approaches.
• Expected synergies between iMotions software and existing Smart Eye technologies.

Negative

• Issuance of new shares could potentially dilute existing shareholders' value.

GÖTEBORG, SE / ACCESSWIRE / November 25, 2021 / Smart Eye (STO:SEYE)(OTC PINK:SMTEF)(FRA:SE9)

As announced on 26 October 2021, Smart Eye Aktiebolag (publ) ("Smart Eye") entered into an agreement to acquire iMotions A/S ("iMotions"), a provider of multimodal software for human behavior research. Smart Eye has today completed the acquisition of all shares in iMotions.

The purchase price for all shares amounted to approximately MSEK 403, of which approximately MSEK 201 is paid through 1,019,493 newly issued shares in Smart Eye (the "Consideration Shares") that the Board of Directors resolved to issue today. The remaining part of the purchase price, corresponding to approximately MSEK 202, was paid in cash. The price of the Consideration Shares amounts to SEK 197.3931 per share and has been determined based on the volume-weighted average price of Smart Eye's shares on Nasdaq First North Growth Market from 9 August 2021 up to and including the business day immediately prior to the conclusion of the share purchase agreement.

The issue of the Consideration Shares will increase the share capital with SEK 101,949.30 and correspond to approximately 4.60 percent of the share capital and votes in Smart Eye. After registration of the Consideration Shares with the Swedish Companies Registration Office, the number of shares and votes in the Smart Eye will amount to 22,148,650 and the share capital will amount to SEK 2,214,865.

"In the coming decade, we are going to see an expansion of human behavioral research utilizing multimodal approaches, and the addition of iMotions and its multi-sensor integration software gives us the tools to unlock increased value for Smart Eye's customers, particularly in the automotive industry. The future is multimodal with technological advances likely to make it easier, faster and more cost-effective to understand what's driving human behavior and decision making. With iMotions, we're adding multimodal analysis software to our advanced eye tracking and facial expression analysis platform", said Martin Krantz, CEO and Founder of Smart Eye.

For further information regarding the acquisition and about iMotions, please see the press release published on 26 October 2021.

For more information, please contact:
Martin Krantz, CEO Smart Eye AB
Phone: +46 70-329 26 98
Email: martin.krantz@smarteye.se

Anders Lyrheden, CFO Smart Eye AB
Phone: +46 70-320 96 95
Email: anders.lyrheden@smarteye.se

The information was submitted for publication, through the agency of the contact persons set out above, at 3 p.m. CET on 25 November 2021.

About Smart Eye

Smart Eye is the global leader in Human Insight AI, technology that understands, supports and predicts human behavior in complex environments. Bridging the gap between humans and machines for a safe and sustainable future. 
 
Today, our technology is embedded in next-generation vehicles, leading the way towards human-centric mobility through Driver Monitoring Systems and Interior Sensing solutions. Our Research Instruments offer unparalleled insights into Automotive, Aviation & Aerospace, Assistive Technology, Media & Marketing, Psychology and many more fields. Our subsidiary Affectiva is pioneering Emotion AI, connecting machine logic with human empathy to gain a deeper understanding of how consumers engage with content and products.
 
Smart Eye was founded in 1999 and is headquartered in Sweden with offices in the US, UK, Germany, Egypt, Japan and China. A publicly traded company since 2016, our customers include NASA, Nissan, Boeing, Honeywell, Volvo, GM, BMW, Geely, Harvard University, 70% of the world's largest advertisers and 28% of the Fortune Global 500 companies.

Visit www.smarteye.ai for more information.

Visit our investor web for more financial information: http://www.corp.smarteye.se/en/

Smart Eye is listed on Nasdaq First North Growth Market. Erik Penser is Certified Adviser and can be reached at +46-8-463 8000 or certifiedadviser@penser.se.

Attachments

Smart Eye completes the acquisition of iMotions

SOURCE: Smart Eye

View source version on accesswire.com:
https://www.accesswire.com/674708/Smart-Eye-completes-the-acquisition-of-iMotions

FAQ

What is the acquisition price for iMotions by Smart Eye?

Smart Eye acquired iMotions for approximately MSEK 403.

How will the acquisition of iMotions impact Smart Eye's business?

The acquisition is expected to enhance Smart Eye's offerings in human behavior research, particularly in the automotive sector.

What percentage of Smart Eye's share capital does the new issuance represent?

The issuance of new shares represents approximately 4.60% of Smart Eye's share capital.

When was the acquisition of iMotions completed?

The acquisition was completed on November 25, 2021.

Who is the CEO of Smart Eye that commented on the acquisition?

Martin Krantz is the CEO of Smart Eye who commented on the acquisition.