Cliq Digital AG acquired remaining 20% stake in Hype Ventures BV from Rudy Robin and others for ?18.3 million.
April 27, 2021
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Cliq Digital AG (XTRA:CLIQ) signed purchase agreement to acquire remaining 20% stake in Hype Ventures B.V. from Rudy Robin and others for ?18.3 million on April 28, 2021. As consideration, CLIQ Digital AG will pay a fixed amount of ?6 million in cash as well as an earn out of approximately ?0.8 million over 2 years. Furthermore, CLIQ Digital AG agreed to issue to the sellers 0.32 million new shares. The sellers of the shares in Hype Ventures B.V. will be admitted to exclusively subscribe for the new shares in equal parts each. Rudy Robin will stay on the board of Cliq. The acquisition of the remaining shares in Hype Ventures B.V. will have a material positive effect on CLIQ Digital AG's net result and earnings per share. In terms of earnings per share, the Company estimates the positive effect to around 30%. Stephan Schulz, Sebastian Bock, Michael Schuhmacher, Jan Hoffmann Linhard of Noerr LLP acted as legal advisor to Cliq Digital AG.
Cliq Digital AG (XTRA:CLIQ) completed the acquisition of remaining 20% stake in Hype Ventures B.V. from Rudy Robin and others on April 28, 2021.
The CLIQ Digital Group is a Germany-based company. The Company engages in selling subscription-based streaming services that bundle movies & series, music, audiobooks, sports and games to consumers globally. The Company licences streaming content from partners, bundles it and sells the content through its numerous streaming services. The Company is a specialist in online advertising and creating streaming services that are advertised towards specific consumer groups.