Hawk Infinity Software AS - Completion of Acquisitions
Hawk Infinity Software AS ("HIS") has entered into agreements for and closedtheacquisitions of 100% of Sportstiming ApS ("Sportstiming") and 100% of FBAIndagaSoft S.L. ("FBA").
Sportstiming is a software company providing proprietary solutions aimed atthesports event industry. Founded in 2001, the company is based in Viby, Denmark,with an organization that has long tenure and solid track-record in the sportstiming and event management industry. Sportstiming has built the businessbrick-by-brick and has the leading online platform technology forregistration,timing, and result communication services for events of all types and sizes,aswell as services for race organizers. Both fixed and transactional revenuestreams from the online platform combined with hardware and other servicescreates a robust revenue profile with significant upside potential.
FBA, founded in 2000 in Santiago de Compostela (Galicia), is a SaaS technologysolutions company with 20 years of experience developing and providingservicesfor measuring and managing the experience of patients, doctors and workers.Thecompany mainly offers its solutions for healthcare institutions, but has alsosuccessfully penetrated other verticals such as customer service companies(B2B)i.e. gyms, insurance brokers, etc.
The companies acquired have a combined LTM pro forma revenue of 55 MNOK andEBITDA of 35 MNOK (Sportstiming as per Jun-2025 and FBA as per Apr-2025), withstrong underlying year-over-year growth on top line and bottom line. Theacquisitions are closed at an upfront enterprise value of NOK 288m. A limitedadditional contingent consideration will be granted for the acquisitions ifcertain relatively ambitious free cash flow growth targets are met over thecoming years, and where a substantial portion of the contingent considerationcan be settled in shares in the parent company of HIS.
The acquisitions will be funded by available liquidity, release from theescrowaccount and an equity issue in HIS towards Hawk Infinity AS.
For further information please contact:
Joakim Stavnes Karlsen Chief Executive Officer Tel: +47 483 88 583 E-mail: jk@hawk.no
Lars Fredrik Revling Chief Financial Officer Tel: +47 412 22 772E-mail: lr@hawk.no
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