StrongPoint announces closing of Divestment of Cash Security business, December 23, 2020
Reference is made to the announcement made on December 18, 2020 by StrongPoint ASA (“StrongPoint”, ticker: STRO) concerning the divestment of Cash Security business area to Cennox Ltd. StrongPoint today announces that the first phase of the divestment was completed on December 23 2020. The transaction includes a performance-based earn-out for the years 2021-2023, and the final payment is expected in January 2024. The divestment follows StrongPoint’s 2025 growth strategy to focus on instore and e-commerce retail technology.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.