Elop AS (OB:ELOP-ME) signed a letter of intent to acquire Simplifai AS on November 6, 2020. Elop AS (OB:ELOP) signed the share purchase agreement to acquire Simplifai AS on on December 21, 2020. Upon completion, Simplifai’s shareholders will receive a consideration reflecting ownership of 22% of the shares in the combined company. The parties are now moving on to negotiating a final share purchase agreement, which is expected to be signed this quarter. The transaction is conditional on successful due diligence of Simplifai, board approvals by Elop and Simplifai, and an extraordinary general meeting in Elop. Pareto Securities AS acted as financial advisor and Wikborg Rein & Co. acted as legal advisor to Elop AS. Elop AS (OB:ELOP-ME) completed the acquisition of Simplifai AS on January 18, 2021.