Material Fact – Acquisition of Itec
LINX S.A. (B3: LINX3), pursuant to the paragraph 4 of article 157 of Law 6404, of December 15, 1976, as amended and in force (“Brazilian Corporate Law”), and the Normative Regulation 358, of January 03, 2002, as amended, hereby informs the market and Shareholders the acquisition of Itecgyn Informática Ltda. (“Itec”), through the signing, on March 21, 2018, of a Purchase and Sale of Shares Agreement by Linx Sistemas e Consultoria Ltda. (“Linx”), a subsidiary of the Company, for 100% of Itec.
The activities of the acquired company include the development and commercialization of management software for drugstores, with focus on medium and large sized chains. Itec gross sales in the last 12 months was BRL 10.5 million.
For the acquisition, Linx will pay BRL 16.4 million in one installment. Additionally, subject to the achievement of financial and operating targets, Linx could pay up to BRL 9.1 million between the years 2018 and 2020.
This acquisition is aligned with the Company’s strategic objectives of reinforcing our portfolio of solutions. In addition to expanding the addressable market of our retail intelligence offer to the industry, whose initial focus is the drugstores vertical.
The acquisition was approved by the Company´s Board of Directors on the date of signing the Contract, pursuant to article 23, item (xxvii) of the Company’s Bylaws, with approval being waived at a Shareholders´ Meeting, since this acquisition is not covered by the article 256 of the Brazilian Corporate Law (Lei das Sociedades por Ações).
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