Stock Exchange Bulletin, December 30, 2019
On December 30, 2019, Solteq Plc signed a business transfer agreement, whereby the company's SAP ERP business, including its current employees and customers, will be transferred to Enfo Oyj, effective on January 1, 2020.
The debt-free purchase price of Solteq's SAP ERP business is EUR 4.275 million, which will be paid in cash by March 15, 2020. The company will recognize the estimated, additional one-time profit of EUR 2.3 million for the fiscal year 2019.
Following the SAP ERP asset deal, Solteq will focus even more on the development of its own software products and on expert services based on selected client products. Solteq's SAP ERP projects employ 21 experts, who will be transferred to Enfo under their existing employment terms.
In 2019, Solteq's SAP ERP business sales is approximately EUR 4 million.
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