Sonaecom will sell WeDo Consulting. Almost two decades after, the company led by Rui Paiva reached an agreement to be acquired and merged with Mobelium for an amount close to $100M.
Sonaecom will sell WeDo Consulting. Almost two decades after, the company led by Rui Paiva, co-Founder and CEO, reached an agreement to be acquired and merged with Mobelium for an amount close to $100M (86M€).
In a statement to CMVM, Sonaecom revealed that an agreement has been reached by its subsidiary Sonae Investment Management (IM) to alienate the “totality of social capital and the company’s voting rights”.
Despite transaction being dependent on a couple of suspensive conditions, Sonaecom also revealed that it will be paid $70M for the tech company. But it can get more in the future.
“The price of the transaction comprehends a fixed component of $70M and a deferred and variable component, dependent on the business performance until December 2021, of $27M”, the Portuguese company recalls. Sonaecom will by then get a total of $97M.
“Sonae IM follows the active management strategy for its technological assets, aiming to consolidate its internationally recognised position of an investor.” Sonae also stressed the importance of this deal to the development and growth of WeDo as it will contribute to project the company globally.