Bulgaria's Bianor closes takeover of Digital Lights

The deal's price was calculated as Digital Lights' sales revenue in 2023, adjusted for net financial position and working capital as of the end of May 2024, Bianor said in a bourse filing on Thursday.

Digital Lights has agreed to reinvest part of the acquisition price in the subscription of new Bianor Holding shares as part of a future capital increase. The purchase price may change depending on the issue value of the new shares.

Last month, Bianor said it signed deals worth 50 million euro ($53.5 million) to acquire 100% of Digital Lights and 51% of software solutions provider Prime Holding, with an option to buy the remaining stake. The acquisitions consolidate the companies already part of Bianor, as well as Prime Holding and Digital Lights, under a new brand, Wiser Technology.

Bianor closed the acquisition of a 51.02% stake in Prime Holding last week.

Shares in Bianor Holding last traded on Thursday when they closed at 6.30 levs ($3.45/3.22 euro) on the Bulgarian Stock Exchange, bourse data show.

($ = 0.9349 euro)