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JS Security acquires the information security company Stonebeach AB

StoneBeach is expected to have sales of approximately SEK 6 million with an EBITDA result of approximately SEK 1.6 million during the full year 2021. During the period 1 January 2021 – 30 September 2021, net sales amounted to approximately SEK 5.3 million with an EBITDA result of approximately SEK 1 million. In 2020, StoneBeach generated net sales of approximately SEK 4 million with an EBITDA result of approximately SEK 340 thousand.

StoneBeach's activities in information security and "enterprise content services" add a great deal of added value to JS Security's product portfolio and growth strategy. The ambition with the acquisition is to strengthen the Group with additional cutting-edge expertise, existing customers in the banking and finance sector, and the automotive industry. StoneBeach currently consists of 5 employees with expert expertise in document and case management and sales.

The initial purchase price amounts to SEK 4 million and is paid in shares in JS Security Technologies Group AB. Price per share is SEK 7.18. The subscription price is based on a volume-weighted average price (VWAP) of the 30 (thirty) trading days' share price between the period 2021-09-21 to 2021-11-01 with a premium of 12%. The number of new shares amounts to 557,103. The sellers are Mårten Bergsten (ownership: 54.5%), Tommy Hammarström (ownership: 32.5%), Fredrik Sundman (ownership: 10%) and Johan Fjeld (ownership: 3%). The dilution amounts to about 8 percent. The additional purchase price can be paid to the seller depending on performance during the 24 months from access. The additional purchase price shall be paid in full by newly issued shares in JS Security.

The sellers will continue to work in Stonebeach and will with this transaction be subject to lock-up agreements until 12 months have elapsed from the date of entry. Furthermore, the Sellers undertake not to sell or lend the shares that accrue to the Sellers in the event of a additional purchase price from 2024-01-31 and 12 months onwards.

“It is undeniably gratifying that we can now go ahead and complete our acquisition of StoneBeach AB. StoneBeach is a well-run and well-established company with extensive experience in information security and established customer contracts that fit well with JS Security. The effect of the acquisition will also be that we now broaden the business and accelerate the company's expansion and growth thanks to StoneBeach and JS Security's fine synergies. '' Says Pontus Wilgodt, acting CEO of JS Security

After registration with the Swedish Companies Registration Office, the share capital will amount to SEK 689,043.70 divided into 6,890,437 shares.

This disclosure contains information that JS Security is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 10-12-2021 08:05 CET.