Quickbit acquires Balder Solutions AS

Quickbit has acquired 100 percent of the shares in the Norwegian company Balder Solutions AS (“Balder”). Through the acquisition, Quickbit will receive the necessary registrations required for a future launch of the Quickbit App and Quickbit Card in Norway, which is the next step in Quickbit’s expansion phase. The purchase price amounts to NOK 2.5 million and is financed in its entirety with cash.

“As we have communicated earlier, we intend to launch the Quickbit App and Quickbit Card in Norway after the launch in Sweden. Norway is a market with great potential for us. With the acquisition of Balder, we are taking a step closer to launching the Quickbit App and Quickbit Card to the Norwegian consumer market, which is the next step in Quickbit’s expansion phase”, says Serod Nasrat, CEO.

The purchase price amounts to NOK 2.5 million and is financed with cash at the time of closing of the acquisition. Closing is expected to take place during the second quarter of Quickbit’s broken fiscal year 2021/2022. Balder’s main assets at the time of closing consist of a registration as a “Virtual currency service provider” with Finanstilsynet (Norwegian Financial Supervisory Authority).

The transaction in summary

  • Quickbit has entered into an agreement to acquire 100 percent of Balder.
  • Seller is BitGate AS, which holds all the shares and votes in Balder.
  • Closing of the acquisition is expected to take place during the second quarter of Quickbit’s broken fiscal year 2021/2022.

About Balder Solutions AS

  • Balder Solutions AS is a Norwegian limited liability company based in Oslo.
  • As of July 19, 2021, Balder Solutions AS has no employees.
  • In the most recent fiscal year, Balder had sales of approx. NOK 1 million.

 

For further information, please contact:
Serod Nasrat, CEO, Quickbit eu AB (publ)
serod@quickbit.com
+46 73 157 63 33

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Quickbit is a Swedish fintech company, which was founded in 2016 with the goal that more people and companies should use cryptocurrency on an everyday basis. Today Quickbit offer solutions for e-merchants to be paid in cryptocurrency and will launch solutions for people to easily use cryptocurrency on an everyday basis. Our more than 50 employees are based in four locations – Stockholm, Gibraltar, Read more at  www.quickbit.com

This is information that Quickbit eu AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 09:30 CEST on July 19, 2021.

2021-07-19 Quickbit acquires Balder