Nekkar (NKR) Acquisition presentation summary

Acquisition overview

• Announced acquisition of 67% of Globetech, a maritime ICT solutions provider, with a staged deal structure and full ownership by 2027.

• Enterprise value set at NOK 120 million, with an initial payment of NOK 64 million in cash and NOK 15 million in shares, and the remainder to be acquired based on 2027 EBITDA.

• Transaction expected to close in Q3 2024, utilizing existing cash reserves and treasury shares.

Strategic rationale and fit

• Acquisition aligns with digitalization and sustainability strategy for ocean-based industries.

• Expands product offerings and diversifies revenue streams with a focus on recurring business from high-end ship owners.

• Brings a skilled team with deep domain knowledge and a culture of innovation.

Globetech business profile

• Provides full-service ICT infrastructure, connectivity, and cybersecurity for the maritime sector, serving over 150 vessels on recurring agreements.

• Achieved over MNOK 75 in estimated 2024 revenue, 22% CAGR (2019–2024e), and ~20% EBITDA margin.

• Established in 2011, headquartered in Kristiansand, with 28 employees.