PRESS RELEASE: Bigben enters into exclusive negotiations with HF Company to acquire Metronic
Lesquin, 20 August 2021, 18:00hrs
Bigben enters into exclusive negotiations with HF Company to acquireMetronic
(Home Digital Life division of HF Company)
Bigben announces that it has entered into exclusive negotiations with the HF Company Group to acquire its METRONICsubsidiary. METRONIC, the European leader in image processingand specialised in the connected world of audio-video, wouldjoinBigben's Audio Telco Business. This new strategic operation would allow Bigben to reinforce its Audio Telco Business with the ambition of exploiting new markets and territories.
METRONIC, a strong position in connected audio-video
METRONIC is a subsidiary of the HF COMPANY Group, whose shares are traded on Euronext regulated market in Paris (currently being transferred to Euronext Growth).
HF Company has initiated a process to sell its Home digital Life division, consisting of METRONIC (France) and its Italian and Spanish subsidiaries. This division posted 24 M€ sales and a 1.9 M€ EBITDA at 31 December 2020.
Founded in 1987 by Yves Bouget, METRONIC is a renowned company that has developed numerous innovative products.
METRONIC designs and distributes innovative products for broadcasting and receiving images at home (TV and audio accessories, amplifiers, decoders, connectors, headsets, speakers, etc.) as well as telephone accessories and audio products. METRONIC brand products are distributed in Europe through a variety of channels, including the largest national retailers in each country.
METRONIC has approximately 90 employees in France (Tours), Spain (Barcelona) and Italy (Milan).
Many synergies between the two entities
By acquiring METRONIC, the Bigben Group would add a renowned player to its portfolio, which would make a significant contribution to the development of its Audio/Telco business, particularly with regard to professional customers (BtoB).
This operation would thus provide the Bigben Group's Audio/Telco division with a new vector for growth and would offer numerous synergies:
- Complementarity of ranges and distribution networks
- Referencing in channels that Bigben has not yet exploited to any great extent (BtoB markets, large DIY stores, etc.)
- Acceleration of international development, in particular in Italy and Spain thanks to dedicated subsidiaries
- Balance sheet strength of Bigben's Audio Telco business enhanced by METRONIC's assets.
Mr. Eric Tabone, current President of METRONIC, would continue to manage METRONIC with a high degree of autonomy in order to pursue and accelerate METRONIC's current development strategy.
A new step towards becoming one of the major European Audio Telco players
In accordance with the commitment Bigben made to its shareholders in February 2021 when issuing a bond that raised 87.3 M€, the Group would confirm its external growth strategy with the acquisition of METRONIC.
By welcoming METRONIC, a well-known player in the Audio Telco industry, into its fold, Bigben would be laying the groundwork for its ambition to become a major European player in Audio Telco.
Terms of the transaction
On 20 August 2021, Bigben Interactive and the HF Company Group entered into exclusive negotiations to acquire the Home digital Life division of HF Company, consisting of METRONIC (France) and its Italian and Spanish subsidiaries.
The transaction price, fully paid in cash, could be set at around 12.0 M€ for 100% of the share capital and voting rights of METRONIC.
Two capped earn-outs could be paid in cash in 2023 and 2024 up to a total aggregate amount of 4.0 M€.
The Board of Directors of the HF Company Group has already validated this proposal which will be submitted for the approval of its shareholders at a General Meeting which could be held by the beginning of October 2021.
The Board of Directors of Bigben Interactive has approved the entry into exclusive negotiations with HF Company as well as the principles of the transaction and will meet again upon final closing of the transaction.
The final completion of the transaction, scheduled to take place in early October 2021, remains subject to the usual conditions’ precedent in force for this type of transaction.
Q2 2021/22 Sales: 25 October 2021, Press release after close of the Paris stock exchange
ABOUT BIGBEN INTERACTIVE
More than 920 employees
24 subsidiaries and a distribution network in more than 100 countries
Bigben Interactive is a European player in video game development and publishing, in design and distribution of smartphone and gaming accessories as well as in audio products. The Group, which is recognized for its capacities in terms of innovation and creativity, intends to become one of Europe’s leaders in each of its markets
Company listed on Euronext Paris, compartment B – Index : CAC Mid & Small – Eligible SRD long
ISN : FR0000074072 ; Reuters : BIGPA ; Bloomberg : BIGFP
CapValue – Gilles Broquelet firstname.lastname@example.org - +33 1 80 81 50 01
AttachmentTo view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire
Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire
Novartis presents new Kisqali® data showing longest median overall survival ever reported in HR+/HER2- advanced breast cancer19.9.2021 13:30:00 CEST | Press release
With the MONALEESA-2 final analysis, only Kisqali has reported statistically significant overall survival (OS) benefit with an aromatase inhibitor for postmenopausal women with HR+/HER2- advanced breast cancer in the first-line (1L) setting2 Kisqali plus letrozole achieved median OS of over five years (63.9 months), a survival benefit of over 12 months vs. placebo plus letrozole in postmenopausal women (HR=0.76; p=0.004)2 Kisqali is the only CDK4/6 inhibitor with proven OS benefit across all three Phase III trials of the MONALEESA program with different endocrine therapy partners, regardless of menopausal status or line of therapy2-4 MONALEESA-2 OS data to be presented at ESMO Congress 2021 as a late-breaker in an oral session The digital press release with multimedia content can be accessed here: Basel, September 19, 2021 — Novartis today announced results of the final overall survival (OS) analysis of the Phase III MONALEESA-2 study, which evaluated Kisqali® (ribociclib) in combinati
Hypefactors announces launch of 4th generation Reputation AI18.9.2021 10:37:51 CEST | Press release
Copenhagen, Sept. 18, 2021 (GLOBE NEWSWIRE) -- Announcement no. 13-2021 Inside Information Copenhagen, 18. September 2021 The SaaS company Hypefactors, that delivers a unified solution for media intelligence and reputation tracking, will launch its next generation Reputation AI (artificial intelligence) on September 20, 2021. Through algorithmic advances in machine learning, as well as drastically increased data curated by a team of in-house recruited linguists with diverse language and cultural backgrounds, Hypefactors incorporates the latest scientific advances in natural language processing to deliver unprecedented accuracy, precision and automation to commercial end-users. AI-assisted reputation tracking is a core feature of Hypefactors and enables large scale tracking from social media, news websites, tv, radio and reviews across the world. These real-time reputation insights can reveal early-stage opportunities (e.g. GameStop media hype), and/or defensively as an on-going protect
Repurchase of shares in Millicom17.9.2021 23:00:00 CEST | Press release
Repurchase of shares in Millicom Luxembourg, September17, 2021 - During the period September 9, 2021 – September 15, 2021, Millicom repurchased a total of 131,559 of its Swedish Depository Receipts (SDRs), hereinafter referred to as shares within the framework of the repurchase program announced on July 29, 2021, details of which are shown in the table below. DateNumber of shares repurchasedWeighted average repurchaseprice (SEK) excluding commissionsTotal daily transaction value (SEK), excluding commissions 09/09/2021 15,000 322.6863 4,840,294.50 10/09/2021 30,000 322.1097 9,663,291.00 13/09/2021 17,974 322.3942 5,794,713.35 14/09/2021 15,725 321.5394 5,056,207.07 15/09/2021 52,860 314.4509 16,621,874.57 All purchases were carried out on Nasdaq Stockholm by Citigroup Global Markets Limited on behalf of Millicom. Following the purchases, as of September 15, 2021, Millicom holds 792,425 treasury shares. The total number of shares outstanding in Millicom is 101,739,217. The repurchase pro
Palette Life Sciences lanserar ny varumärkeswebbplats med USA:s portfölj17.9.2021 18:09:14 CEST | Pressemelding
Varumärkesuppdatering för USA och globala kommersiella produkter för behandling av ouppfyllda medicinska behov SANTA BARBARA, Kalifornien och STOCKHOLM, Sverige, Sept. 17, 2021 (GLOBE NEWSWIRE) -- Palette Life Sciences, ett helt integrerat globalt företag inom biovetenskap som arbetar för att förbättra patientutfall, lanserade idag sin nyligen uppdaterade webbplats Palettelifesciences.com. Webbplatsen har ett uppdaterat företagsvarumärke som stöder alla produkter i Palette Life Sciences-portföljen, och som fokuserar på minimalt invasiva behandlingar inriktade på ouppfyllda medicinska behov vid strålbehandling och interventionella onkologiska ingrepp, urologiska/urogynekologiska sjukdomar och kolorektala tillstånd. ”Vi inom Palette är stolta över vår förstklassiga produktportfölj som ger hopp åt dem med ouppfyllda medicinska behov”, säger Per G. Langö, Chief Executive Officer och Board Director för Palette Life Sciences. ”När vi bytte varumärke på vår webbplats övervägde vi hur vi bäst
Prosafe SE: bp charters Safe Zephyrus in 202217.9.2021 17:40:15 CEST | Press release
BP Exploration Operating Company Limited ('bp') has chartered the Safe Zephyrus to provide gangway connected operations to support the Seagull project at the ETAP central processing facility in the UK North Sea. The firm duration of the contract, starting Q1 2022, is 10 months with up to four months of options. The Safe Zephyrus is one of the world's most advanced and versatile accommodation vessels, complying with stringent rules in both UK and Norway and with a strong focus on reducing emissions by optimising the engine load. The value of the contract firm duration is USD 35.5 million, and the firm duration including options value is USD 49.3 million. Prosafe is a leading owner and operator of semi-submersible accommodation vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com 17 September 2021 Prosafe SE For further information, please contact: Jesper K. Andresen, CEO Phone: +47 51 65 24 30 / +47 907 65
CONDITIONS FOR RIKSBANK REVERSED AUCTIONS SEK COVERED BONDS17.9.2021 16:20:00 CEST | Press release
Bid procedure, 2021-09-23BondsSWEDBANK HYPOTEK AB: 192. SE0010133207. 2023-03-15 STADSHYPOTEK AB: 1591, SE0013882644, 2026-06-01 SWEDISH COVERED BOND: 146, SE0013381571, 2025-06-11 SKANDINAVISKA ENSKILDA: 581, SE0013102043, 2026-12-16 LANSFORSAKRINGAR HYPOTEK: 520, SE0014694659, 2027-09-15 DANSKE HYPOTEK AB: 2312, SE0011116474, 2023-12-20 NORDEA HYPOTEK AB: 5536, SE0013358439, 2026-09-16 Bid date2021-09-23Bid times09.00-10.00 (CET/CEST) on the Bid dateRequested volume (corresponding nominal amount)192: 400 mln SEK +/-200 mln SEK 1591: 1900 mln SEK +/-950 mln SEK 146: 700 mln SEK +/-350 mln SEK 581: 500 mln SEK +/-250 mln SEK 520: 600 mln SEK +/-300 mln SEK 2312: 500 mln SEK +/-250 mln SEK 5536: 400 mln SEK +/-200 mln SEK Highest permitted bid volume (corresponding nominal amount)192: 400 mln SEK per bid 1591: 1900 mln SEK per bid 146: 700 mln SEK per bid 581: 500 mln SEK per bid 520: 600 mln SEK per bid 2312: 500 mln SEK per bid 5536: 400 mln SEK per bid Lowest permitted bid volume (co
CONDITIONS FOR RIKSBANK REVERSED AUCTIONS SEK GOVERNMENT BONDS17.9.2021 16:20:00 CEST | Press release
Bid procedure, 2021-09-24BondsSWEDISH GOVERNMENT: 1056. SE0004517290. 2032-06-01 SWEDISH GOVERNMENT: 1053, SE0002829192, 2039-03-30 Bid date2021-09-24Bid times09.00-10.00 (CET/CEST) on the Bid dateRequested volume (corresponding nominal amount)1056: 500 mln SEK +/-250 mln SEK 1053: 750 mln SEK +/-350 mln SEK Highest permitted bid volume (corresponding nominal amount)1056: 500 mln SEK per bid 1053: 750 mln SEK per bid Lowest permitted bid volume (corresponding nominal amount)SEK 50 million per bidExpected allocation timeNot later than 10.15 (CET/CEST) on the Bid dateDelivery and payment date2021-09-28Delivery of bondsTo the Riksbank's account in Euroclear Sweden AB's securities settlement system 1 4948 6383 Stockholm, 2021-09-17 This is a translation of the special terms and conditions published on www.riksbank.se. In the case of any inconsistency between the English translation and the Swedish language version, the Swedish language version shall prevail. Complete terms and conditions c