Bmax AS completed the acquisition of 70% stake in Maxifier Ltd from Cxense ASA (OB:CXENSE).
December 16, 2018
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Bmax AS entered into an agreement to acquire 70% stake in Maxifier Ltd from Cxense ASA (OB:CXENSE) for $0.18 million on November 20, 2018. Bmax AS will also have an option to acquire further 50% of the remaining shares in Maxifier held by Cxense, corresponding to 15% of currently outstanding shares. The option expires on November 20, 2020. The purchase price payable to Cxense for the option shares shall be calculated using the same principles as for the purchase price, but subject to a pre-agreed enterprise value of $1 million. Under the terms of the transaction, the purchase price is still subject to a vendor credit agreement with maturity date on January 1, 2021. As of October 31, 2018, Maxifier reported total assets of $0.23 million and equity of $0.21 million. The transaction is subject to certain conditions and is expected to complete in November 2018. Aabø-Evensen & Co Advokatfirma AS acted as legal advisor to Cxense.
Bmax AS completed the acquisition of 70% stake in Maxifier Ltd from Cxense ASA (OB:CXENSE) on December 17, 2018.
Cxense ASA is a Norway-based company engaged in software development. It develops Cxense Extraordinary Insight Engine (EIE), a software as a service (SaaS) suite for online content management, designed for media houses, publishers, advertising agencies and other corporate clients. Additionally, the Company provides cloud-based standalone solutions which can also complement the EIE: Cxense Advertising, a solution enabling targeted digital advertising; Cxense Analytics, which offers real-time monitoring of audience and website analytics; Cxense Content, providing personalized content recommendations; Cxense DMP, which enables publishers to aggregate, segment and auction user data to engage and monetize the audience; and Xsense Search, providing personalized search results and suggestions based on history, context and similar searches. The Company operates in Denmark, Sweden, the United Kingdom, Japan, Argentina, Brazil, and the United States.