Novabase sold its stake in Collab, the Swedish contact center specialist, Netadmin System i Sverige AB for six million euros. Portuguese technology advances in a statement that the purchase and sale took place with the delivery of shares against the payment of part of the price. Novabase has already received 4.5 million euros for the business, with the remaining amount of 1.5 million euros to be paid through adjustments.
The Portuguese company clarifies that, due to the positive or negative price adjustment clauses agreed by the parties, it is still not possible to estimate the final consideration obtained with the business. Under the table there may be an additional annual gain, for three years, which will depend on the performance of Collab. Nevertheless, Novabase claims that it can achieve an added value between 100,000 euros and 800,000 euros.
Currently, Collab employs around 60 employees, representing a turnover of 6.5 million euros in 2019. According to Joo Nuno Bento, CEO of Novabase, the contract signed will allow the continued implementation of the company's strategy, freeing up resources for implementing the 2019+ Strategic Update objectives.
Also in November 2019, Novabase sold its data analytics and business applications sector VINCI Energies, a business seen by the company as having a positive impact when it released its financial results for that year. For Joo Nuno Bento, executive president of the company mentioned in a press release, the business was a fundamental achievement, being something that allowed management to focus on the Next-Gen transformation agenda.
According to the results released in February, Novabase closed 2019 with a profit of 20.4 million euros. Portuguese technology revealed that the value represents a significant increase compared to 2018, where a profit of around 4.7 million euros was recorded.