ayfie Group AS entered into a letter of intent of acquire Hiddn Solutions ASA (OB:HIDDN) in a reverse merger transaction on June 24, 2019. Post-completion, the shareholders of ayfie Group will hold approximately 85% stake in Hiddn Solutions. The transaction is subject to, among other things, including completion of due diligence, final transaction agreements being entered into and approval from the shareholders of both ayfie and Hiddn Solutions at an extraordinary general meeting.

The transaction is expected to complete in second half of 2019. Aabo-Evensen & Co Advokatfirma AS acted as legal advisor for Hiddn Solutions in the transaction.