The majority shareholders of SameSystem A/S signed an SPA (Sales and Purchase Agreement) with ECIT AS on the 20th of December 2024, subject to successful due diligence over the coming weeks. If the transaction is completed, ECIT AS will own between 50.1% and 55% of SameSystem A/S, and the Founder, Henrik Ritlov, and family members will own the remaining part and take up key management positions.
As announced in relation to the delisting from Nasdaq Copenhagen on the 18th of January 2024, all minority shareholders in SameSystem A/S will be presented with the opportunity to sell their shares at the same price as the major shareholders selling to ECIT, allowing all to capitalise on the investment. The sales price is expected to be approximately 2.20 per share before the deduction of transaction costs.
The transaction is subject to a successful Due Diligence process, and the closing date is expected to be the 29th of January 2025.
The transaction will strengthen SameSystem’s financial position and ability to invest further in becoming the leading provider of WorkForce Management for Retail and Hospitality in Europe. The ownership will also provide SameSystem access to unified group services of ECIT AS, improving our operational capabilities.
Details about this opportunity and how to sell shares will be distributed to shareholders following this announcement.
About SameSystem
SameSystem is an international Software-as-a-Service (SaaS) company with a local office in five countries. SameSystem offers a scalable, regulatory-compliant, data-driven workforce management (WFM) solution tailored to retail and hospitality. SameSystem enables retailers and foodservice businesses to maximise performance levels and competencies in their organisations by freeing up time for employees, reducing administration significantly and helping stores and restaurants plan perfectly. SameSystem’s solution includes AI-powered forecasting, a budget-conscious scheduling feature, automatic payroll processing, digital contracts and signatures, time and attendance tracking and a business intelligence feature. For more information about SameSystem, please visit www.samesystem.com.
About ECIT
Founded in 2013, ECIT supports a large customer base with accounting, payroll, and IT services. ECIT has a proven model for acquisitions, combining proximity to customers, local entrepreneurship and the strength of a larger international group. ECIT has a full-year proforma revenue of 3.8 billion NOK per H1 2024 and more than 2,500 employees across ten countries. M&A has been key to driving the Company’s growth, as ECIT has completed more than 135 acquisitions since 2013. Read more at www.ecit.com.
