Eurocon Consulting AB (publ) (OM:EURO) agreed to acquire Automation West Engineering AB for SEK 16.3 million on September 24, 2013. The total consideration comprises of a fixed purchase price and an additional price, which will be linked to both growth and profitability of Eurocon Consulting and Automation West. The fixed purchase price amounts to SEK 11.8 million on a debt free basis, which will be paid as 30% of the shares of Eurocon Consulting and the balance in cash.

The additional purchase price amounts to SEK 4.5 million, which will be paid as 45% of the shares of Eurocon Consulting. The additional purchase price will be paid in October 2016 and the final payment will be determined in close connection to the payment date. Automation West Engineering reported annual turnover of SEK 25 million.

The transaction is expected to complete on October 1, 2013.