NORBIT withdraws from transaction process

NORBIT withdraws from transaction process

Written by Customer Service on . Posted in Public Companies.

Trondheim, 1 May 2022: Reference is made to the stock exchange notice dated 1 March 2022, where NORBIT announced to be in exclusive negotiations regarding a minor add-on acquisition of an undisclosed international maritime technology company. Completion of the transaction was subject to a number of conditions, of which some were not fulfilled satisfactorily as considered by NORBIT. Accordingly, NORBIT has decided to rescind the share purchase agreement and withdraw from the process.

NORBIT will continue to explore value-accretive acquisitions through its defined criteria to accelerate growth beyond its organic revenue target of NOK 1.5 billion in 2024.

For more information, please contact:
Per Jørgen Weisethaunet, CEO, +47 959 62 915
Per Kristian Reppe, CFO, +47 900 33 203

About NORBIT

NORBIT is a global provider of tailored technology to selected niches, solving challenges through innovative solutions, in line with its mission to Explore More. The company is structured in three business segments to address its key markets; Oceans, Connectivity and Product Innovation & Realization (PIR). The Oceans segment delivers tailored technology solutions to global maritime markets. The Connectivity segment providing wireless solutions for identification, monitoring and tracking. The PIR segment offers R&D services, proprietary products and contract manufacturing to key customers.

NORBIT is headquartered in Trondheim with manufacturing in Norway, has around 400 employees and a worldwide sales and distribution platform.

For more information: www.norbit.com

The information is such that NORBIT is required to disclose in accordance with the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

The information was submitted for publication by Elise Heidenreich, Investor Relations at NORBIT ASA, on 1 May 2022 at 22:30 CEST.

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.