Hiddn Solutions ASA has entered into a share exchange agreement with Arribatec AS and the majority of its A-shareholders to acquire all of the shares in Arribatec for a total consideration of approximately NOK 340 million on an equity basis.
The joint intention of Hiddn and Arribatec is to complete a statutory merger between Hiddn and Arribatec following the closing of the Agreement. Hiddn will be renamed Arribatec ASA and the company will pursue further M&A initiatives in addition to accelerating the organic growth.
Arribatec will continue the operations as today and with the same executive management team. We are very excited about this development and the opportunities this will bring our employees, partners and customers going forward.