Span acquired 100% of shares in GT Tarkava LINKAJ. GT Tarkava is a leading Estonian company in licensing and software asset management, the segment where Span generates c. 60% of its top line. The estimated value of the transaction is EUR 11.4m with part of the purchase price depending on the business results of GT Tarkava in 2023 & 2023.

On Friday, Span published a notice of the purchase of 100% shared in GT Tarkvara. GT Tarkava is a leading Estonian company in licensing and software asset management. This represents a further expansion of Span’s main segment in deriving revenues. We note Span derives c.60% of its top line in this segment – licensing and software asset management. Further, this represents the first step in the business relationship with Span and a customer and the base for potentially providing other services available at Span. Also, the acquired company is already focused on digital transformation and cyber security projects. Finally, Span also emphasized this transaction as a solid base for further expansion, especially in high-added value segments, combined with Span’s advanced cloud and cyber security services.

The estimated value of the transaction is EUR 11.4m with part of the purchase price depending on the business results of GT Tarkava in 2023 & 2023. With this acquisition, Span entered the Estonian market, one of the most digitally developed countries in Europe. This confirms Span’s strategic course to further growth and expand to new markets.

Span key financials (2022 vs. 2021, HRKm)

Source: Span, InterCapital Research