Hexatronic Group AB (publ) (“Hexatronic”) has today, September 1, 2022, acquired 82% of the shares in homeway GmbH (“homeway”).
homeway provides a complete inhouse multimedia system for home networking over fiber, LAN, coax, power cable and Wi-Fi. The company works with builders and property developers, planners and installers. The company was founded in 2002 and has approximately 25 employees based in Coburg, Germany.
This acquisition will enable Hexatronic to broaden its offering in the German market and takes the offering all the way into the home.
The sellers are the founder and management team all of which will continue in their current positions and will also remain as minority shareholders with 18 percent of the shares of homeway. Hexatronic has an option to acquire the remaining 18 percent of the shares outstanding during the first half of 2026.
The acquisition is financed with a combination of available cash and newly issued shares. The acquisition has no significant impact on Hexatronic’s earnings.
Comments from Hexatronic CEO
“We are very pleased to welcome the homeway team to Hexatronic Group. A passionate and highly skilled team that has developed unique products and solutions. Together with homeway, we are well positioned to the capture opportunities in the growing German FTTH-market with a broader offering” says Henrik Larsson Lyon, CEO of Hexatronic Group.
Comments from homeway GmbH
“With the sale of the majority stake to the Hexatronic Group, we have the opportunity to achieve our ambitious goals even faster with a strong partner at our side. We are looking forward to writing another successful chapter of homeway GmbH together with the new colleagues”, says Peter Stegner, CEO of homeway GmbH.
New share issue
The Board of Directors of Hexatronic has resolved, pursuant to the authorisation granted by the annual general meeting on 5 May 2022, on an issue in kind of 88,429 ordinary shares in Hexatronic as part of the purchase price for the acquisition of homeway. The subscription price, which amounts to SEK 109.476 per share, corresponds to the average closing price for Hexatronic’s ordinary share on Nasdaq Stockholm during 30 days of trading before August 22, 2022.
Through the new share issue, Hexatronic’s share capital increases by SEK 884.29 to SEK 2,050,625.79. The number of shares will after the new issue amount to 205,062,579, of which 202,420,308 are ordinary shares and 2,642,271 are shares of series C. The number of votes will, after the new issue, amount to 202,684,535.
Gothenburg, September 1, 2022 Henrik Larsson Lyon CEO Hexatronic Group
For more information, please contact: Henrik Larsson Lyon, CEO Hexatronic Group, +46 706 50 34 00 Pernilla Lindén, CFO Hexatronic Group, +46 708 77 58 32
The information was submitted for publication, through the agency of the contact person set out above, at 15:00 CEST on 1 September 2022. This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.