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Announcement of OXO Technologies Holding Plc. on a completed acquisition

News
Jánoska Rita 2022.12.21.

As the Company already informed the public in its October announcement, the Board of Directors has decided to carry out the acquisition of Inveturio Zrt. by a designated subsidiary, OXO Labs Kft., in the form of a leverage buyout.

The leverage was provided by Oberbank under the Széchenyi Investment Loan facility for a total amount of HUF 300 million. The Company financed the co-payment to the bank loan in the amount of HUF 157 million. The transaction was closed on 14 December 2022 at a purchase price of HUF 457 million.

Inventurio Zrt. has become known to users under the brand name Olcsobbat.hu, a platform that provides a complex service that solves the current challenge of webshops by guiding price-sensitive customers through a large selection of products. Olcsobbat.hu not only operates price comparison, but also provides aggregator-managed account shopping, self-service shopping, and display shopping. Currently it is the third largest price comparison platform in Hungary, offering more than 5,500 online shops with nearly 4 million products and is a qualified Google Shopping provider.