Linx acquires Chaordic and Neemu
Sao Paulo, September 03, 2015 – LINX S.A. (BM&FBovespa: LINX3), leading provider of retail management software in Brazil, today announced the acquisition of Chaordic andNeemu, through the signing, on September 03, 2015, of a Shares Purchase Agreement by Linx Sistemas e Consultoria Ltda., a subsidiary of the Company, for 100% of the shares of Chaordic Systems S.A. and Neemu Serviços em Tecnologia da Informação S.A.
The acquired companies are leaders in the personalization of online shopping experience, focused in “search and recommendation” tools for “e-commerce”. Over 60% of the Brazilian e-commerce went thru the acquired solutions, turning Linx into the leader in this segment. The estimated gross revenues of the combination of the acquired companies for 2015 is R$32 million.
For Chaordic and Neemu, Linx will pay R$78,600,000.00 (seventy eight million six hundred thousand reais) in one installment. Additionally, subject to the achievement of certain financial and operating targets for the years 2016 until 2018, Linx could pay up to R$32,836,000.00 (thirty two million eight hundred thirty six thousand reais) as earn-outs.
According to E-bit, e-commerce in Brazil grew 16% in the first half of 2015 and is expected to continue to outgrow traditional retail in the coming years. In this scenario, the acquisitions enhance the Omnichannel strategy, accelerate the migration to the cloud and bring new opportunities in big data.
The acquisition was approved by the Company‘s Board of Directors on the date of signing the Contract, in accordance with Article 23, item (xxvii) of the Company‘s Bylaws.
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