AltX-listed specialist technology group Alaris Holdings has entered into a share purchase agreement with antenna manufacturer Cojot in terms of which Alaris will acquire 100% of the issued share capital of Cojot, as well as any and all shareholder loan claims that the sellers have against the company.
The total amount payable by Alaris to the sellers as consideration for the acquisition was €3.74-billion, which was payable in cash. The company noted that it would pay €3.36-billion in immediately available funds on the last working day of the month.
Alaris reported on Friday that one of its main objectives was to expand its footprint globally and that it had identified the European and US markets as the best points of entry.
While Alaris and Cojot operate in a similar market space, Cojot was a European market player that would provide improved market access for the sale of other Alaris products.
Alaris said it had been considering acquiring Cojot since 2012
The two business models were complementary and the combined operations would position Alaris to capitalise on new opportunities that would become available through cross-selling, as well as through the design and development of products resulting from the combined skills set.
Alaris would also gain access to the European supply chain.