Basware Oyj: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Basware Oyj Closes Acquisition of Certipost's Network and e-Invoicing Business
Basware Oyj announced that its acquisition of Certipost's network and e-Invoicing business has been closed. The initial acquisition price of approximately EUR 18.2 million was paid in cash on the closing date. The final acquisition price will be based on the audited 2012 annual accounts. Basware will consolidate the acquired business into its net sales and profit starting from January 1, 2013. The purchase price to be allocated is approximately EUR 18.2 million. The acquired net assets amount to approximately EUR 1.4 million, including the cash reserves of EUR 2.2 million. Approximately EUR 4.5 million associated with customer relationships and acquired technology has been allocated to intangible assets, taking deferred tax liabilities into consideration. The value associated with customer relationships and technology will be amortized completely over seven years, starting from the first quarter of 2013. The purchase price includes approximately EUR 12.3 million of goodwill. The calculation concerning the allocation of the purchase price is preliminary. The Company announced the agreement to acquire the network and e-Invoicing business of Certipost on October 5, 2012.
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