Netum Group Oyj (HLSE:NETUM) entered into an agreement to acquire Studyo Oy on December 29, 2022. The purchase price consists of a cash payment, Netum shares, and separately paid net cash. Furthermore, a possible additional purchase price has been agreed upon, which is tied to Studyo's business development in 2023-2024.
Studyo continues to operate as a subsidiary of Netum Group Plc. Studyo reported turnover of approximately 1.3 million and EBITDA of approximately 0.1 million in the financial period ending December 31, 2021. The transaction is expected to close on January 02, 2023.