30 June 2021
Lleida.net agrees to buy electronic signature company inDenova for 7.1 million euros
Barcelona, June 30th - Technology services company Lleida.net (BME:LLN) (OTCQX:LLEIF) (EPA:ALLLN) has reached an agreement to acquire 100% of the electronic signature solutions company inDenova for 7.1 million euros.
Both companies are Spanish.
The deal (which was agreed upon yesterday during the Mobile World Congress in Barcelona, by Lleida.net CEO Sisco Sapena and inDenova COO Jordi Gisbert) is the first acquisition by the Spanish listed company as part of its new inorganic growth strategy.
"The acquisition of inDenova represents a step forward in the company's growth but, more than that, it means having once again fulfilled the promise we have made time and again to our shareholders to protect their interests and generate profitability for them," explained Sapena.
Last February, Lleida.net announced its intention to enter the capital of companies that could add value to its growth plans, and that were complementary to its service offer.
As a result of this purchase, Lleida.net's aggregate EBITDA would grow over 3.95 million euros, taking 2020 data as a reference.
With the investment, Lleida.net staff would grow by 70 percent, over 170 employees, with new teams in Valencia, Bogota and Lima.
inDenova has specialised for the last decade and a half in providing electronic signature, electronic invoicing and process automation services.
It has clients in Spain, Morocco, Colombia, Peru, Chile and Paraguay.
Lleida.net, which is listed in New York, Paris and Madrid, is the European leader in the certified electronic signature, notification and contracting industry.
It holds more than 205 patents in electronic contracting and notification, granted by more than 60 countries on five continents, and its intellectual property portfolio is one of the largest in the industry worldwide.
Currently, more than 75 countries recognise the legal validity of its electronic methods as a means of certifying legal notices in procurement processes.
Bondo Advisors has advised on the transaction, which is pending due diligence.