Bittnet Systems SA (BVB:BNET) agreed to acquire 35% stake in Servodata a.s. from Moore Czech Republic s.r.o for €1.4 million on March 1, 2021. Bittnet will issue new shares worth €1.4 million. Servodata achieved total revenues of €10 million and an EBITDA of €1 million in 2020. Upon the close of the transaction, the board of directors of Servodata will consist of five members, with two seats belonging to the shareholder Bittnet. The transaction is subject to approval at the general meeting of shareholders from both Bittnet and Servodata and is subject to the successful completion of the due diligence process. Bittnet's shareholder meeting is scheduled for April 27, 2021.