Read the original press release here.
Hexatronic Group AB (publ) (“Hexatronic”) has acquired 100% of the issued share capital of Mpirical Ltd. (“Mpirical”), a UK-based telecoms technology training provider focusing on cutting-edge accredited mobile and wireless telecoms technology training. Target customers are service providers, equipment vendors, network analysis & test providers, and government & public sector. Mpirical’s training is predominantly delivered online through the fast growing on-demand platform which enables Mpirical to provide training to customers globally. The purchase price is paid partly in cash and partly through newly issued shares.
Mpirical
Mpirical has been present in the telecom technology training market since 2002, with a focus on training in areas such as 5G, 4G, 3G, next generation voice, IoT and Wi-Fi. The offering ranges from introductory training to highly advanced technology training. The broad offering of approximately 1,500 online on-demand telecoms technology training videos has attracted customers globally, with videos streamed in over 180 countries. The on-demand online training is available through Mpirical’s proprietary Learning Management System called the LearningZone, which has been developed in-house. This proven online delivery channel makes the business highly scalable and enables it to grow without the need for the corresponding growth in resources.
The vendors are the four directors of the company, all of whom will remain in their current roles.
The acquisition will further enhance Hexatronic’s training capabilities globally, particularly within 5G. Mpirical’s Learning Management System and production of online training videos will also support Hexatronic’s other training companies in enhancing their online course material.
The acquisition has no significant impact on Hexatronic’s revenue or earnings.
Comments from the CEO
“We are excited to welcome Mpirical’s team of highly professional individuals within mobile and wireless telecoms training to Hexatronic Group. The company will broaden Hexatronic’s training offering of foremost specialised 5G training where we see large growth potential in the coming years. Mpirical’s technical team will also be able to support Hexatronic’s other training companies with Mpirical’s own developed and proven Learning Management System as well as competence in creating professional online training videos to enhance their online offering.
Hands-on training is an important part for most of our training companies, but online training has shown to be an attractive complement for our clients especially for the theoretical part of the course. Online training also enables Hexatronic to offer training globally which will broaden Hexatronic Group’s geographical span outside of the already established training businesses in Sweden, Norway, the UK, the US and soon Germany”, says Henrik Larsson Lyon, CEO of Hexatronic Group.
Comments from Mpirical
“We are truly excited to be joining the Hexatronic family at what is a very interesting period in the evolution of telecommunications networks and the convergence of fixed and mobile systems, especially with the current global rollout of 5G. Being part of the Hexatronic Group will enable us to accelerate our development plans for the LearningZone, our on-demand training platform in addition to continuing to broaden our portfolio of training courses. We are confident that in working in partnership with Hexatronic’s other training companies, we can only enhance all of our capabilities and as such, we are enthused to begin the next chapter in our journey”, says Graeme Green, Managing Director at Mpirical
New share issue
The Board of Directors of Hexatronic has resolved, pursuant to the authorisation granted by the annual general meeting on 6 May 2021, on an issue in kind of 98,615 ordinary shares in Hexatronic as part of the purchase price for the acquisition of Mpirical.
The subscription price, which amounts to SEK 145.66 per share, corresponds to the average closing price for Hexatronic’s ordinary share on Nasdaq Stockholm during 30 days of trading before 1 June 2021.
Through the new share issue, Hexatronic’s share capital increases by SEK 4,930.75 to SEK 1,911,151.30. The number of shares will after the new issue amount to 38,223,032, of which 37,863,032 are ordinary shares and 360,000 are shares of series C. The number of votes will, after the new issue, amount to 37,899,032.
Advisor
DMH Stallard has acted as legal counsel to Hexatronic for its acquisition of Mpirical.
BCMS and Mills & Reeve have acted as financial and legal counsel to the sellers, respectively.
Gothenburg, June 2, 2021
Henrik Larsson Lyon
CEO Hexatronic Group
For more information, please contact:
Henrik Larsson Lyon, CEO Hexatronic Group, +46 706 50 34 00
The information was submitted for publication, through the agency of the contact person set out above, at 17.30 CET on June 2, 2021.
