Allterco JSCo: 60% stake in IoT provider GOAP d.o.o.

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The Bulgarian company Allterco JSCo announced the acquisition of a majority of the shares of GOAP d.o.o. from Slovenia. Option agreements have been concluded for the remaining 40 percent.

Allterco JSCo: Acquisition of GOAP d.o.o. to expand its product range

Expansion is on the daily agenda for Allterco, and so the acquisition of the shares in the Slovenian company GOAP fits in perfectly with the company’s concept. Allterco, a manufacturer, developer and professional active in sales, focuses on IoT products and recently expanded its portfolio by acquiring shares. The contracts run on shares of 60 percent, the still open 40 percent were secured in option negotiations. Allterco relies on always setting new trends, and the acquisition should help it to do so once again.

The acquisition of the shares cost Allterco around two million euros. How expensive the second package will be has not yet been determined. Sums between 0.7 and 3.45 million euros are currently being discussed, with various conditions determining the exact purchase price. This is based on the business success of GOAP.

Negotiations on second sales phase underway

Negotiations on the second phase of the takeover are already underway and corresponding contracts have been signed by the responsible shareholders. The remaining business shares amounting to 40 percent are to be transferred in two packages. The first is a package of 16 percent and the second is a takeover of the remaining 24 percent. Allterco has received conditional purchase options for this, while GOAP continues to hold the put options. The dates are 2023 and 2025, and the criteria set for the takeover include sales and EBITDA. If all criteria are met by the seller, the sale and thus the complete takeover by Allterco is to be completed. In addition, the selling price of the remaining shares will be based on whether and how the set criteria are met. At present, the provisions that could arise as a result of a possible failure to meet the set takeover criteria have not yet been disclosed to the public. However, they have probably already been contractually agreed.

About Allterco

Allterco operates on three continents of the world with more than 100 employees. The company is present in six countries and is looking for further expansion opportunities. The acquisition of Slovenian company GOAP is just another step on the ladder of success. The industry experts employed by Allterco mainly gather young developers around them and have focused on two main lines. One is the development and manufacture of intelligent GPS devices, which include smartwatches for children. Second, home automation is another major business area for Allterco. New partners and acquisitions are constantly being sought, and these are to be located primarily in additional countries around the world. Allterco uses these acquisitions to expand its own product portfolio and secure a place in the market.

Contact with the company can be made through these channels:

103 Cerni Vrah Blvd
Bulgaria, Sofia 1407
 

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