INVL Technology (hereinafter referred to as the Company) is pleased to announce that we have completed the selection of candidates to provide M&A brokerage services. Based on the main selection criteria, the Company entered into an agreement on March 18, 2024 with a Corum Group company, specifically the Zurich branch of Luxembourg-based Corum Group International S.A., to act as an M&A intermediary. Did. the completion of a sale transaction for the entire portfolio of businesses managed by INVL Technology before the end of our anticipated period of operations;
The M&A intermediary with which we engaged is an experienced industry expert in mergers and acquisition services specializing in work with software and information technology companies, and has an extensive contact network with potential buyers around the world. and has the ability to provide various information to the Company. Strategic support in the sale of controlled businesses.
The contract period ends in mid-July 2026, which is the end of our business period. The compensation paid to a service provider for services rendered consists of two parts: a fixed fee and a success fee. Success fees are specified as a percentage. The amount depends on the price of the asset being sold. Pursuant to our agreement with Corum Group International, fee amounts and calculation methods are confidential.
If certain sales of businesses under management are completed and we become obligated to pay success fees to our selected M&A intermediaries, we will separately notify you of the important details of the transaction, including the final success fee costs.
Additional Information:
IT business investor INVL Technology has selected Corum Group International, the Luxembourg-based division of M&A brokerage services provider Corum Group, to advise on the sale of its business portfolio and act as an M&A broker. INVL Technology, managed by INVL Asset Management, a leading alternative asset management company in the Baltics, is a closed-end investment company that is required to close its investments and distribute funds to shareholders by mid-July 2026 at the latest.
“As our investment company is nearing the end of its operating life, we are introducing an M&A intermediary to help us sell our portfolio companies at the highest price. Our options include the sale of companies in the IT sector. We build on Corum Group International's experience and expertise in M&A transactions and our extensive network of potential buyers around the world,” said Kazimieras Tonkunas, Managing Partner of INVL Technologies.
When choosing an intermediary service provider, INVL Technology relies on its ability to accurately assess businesses in the IT sector in terms of market trends, financial performance and growth potential, as well as the experience of Corum Group International teams in Europe and the United States. We also paid attention to their expertise.
“We are impressed with the quality of the IT services and cybersecurity assets managed by INVL Technology and are honored to advise the company in finding the best buyer for these assets.” said Jaber Tannay, Senior Vice President, Corum Group.
The agreement with the Zurich branch of Corum Group International was signed on March 18, 2024.
The compensation paid to Corum Group International for services provided under this Agreement consists of a fixed fee and a contingency fee. The performance fee is specified as a percentage and depends on the price of the asset sold. Pursuant to our agreement with Corum Group International, fee amounts and calculation methods are confidential.
corum group is a merger and acquisition services expert and leader, specializing in servicing the technology sector worldwide, with a focus on software and IT services companies. We have an extensive network of potential buyers around the world and a team of experienced senior investment advisors who are former executives at technology companies. Corum Group has experience in providing strategic support in the sale of portfolio companies.
Businesses managed by INVL Technology include cybersecurity company NRD Cyber Security, GovTech company NRD Companies, and Baltic IT company Novian.
The total revenue of INVL Technology's portfolio companies in the third quarter of 2023 was EUR 42.29 million, an increase of 28.5% compared to the same period in 2022. Gross profit for the same period increased by 25.6% compared to 11.54 million euros. EBITDA increased by 83.8% to 1.56 million euros.
INVL Technology's shares are traded on the secondary list of the Nasdaq Vilnius Stock Exchange (INC1L).
Persons authorized to provide additional information:
Casimieras Tonkunas
INVL Technology Managing Partner
Email k.tonkunas@invltechnology.lt
