PlayHippo AB (publ) entered into an agreement to acquire Phase One Gaming Group AB for SEK 60 million on July 18, 2017. As reported, initial purchase price of the acquisition is SEK 30 million in cash with a maximum additional purchase price of another SEK 30 million 12 months after acquisition. The additional purchase price shall be paid through a cancellation issue where the price per share is calculated as the volume weighted average of 30 trading days prior to the date of the cancellation. PlayHippo will finance the acquisition through a new issue, loan or combination thereof. Phase One Gaming Group reported turnover of SEK 23 million and net profit of approximately SEK 8.5 million in 2016. The agreement is conditional on Playhippo financing the acquisition no later than September 30, 2017.