Span Acquires Ekobit Software Company

On 14 March 2022, Span signed a purchase and sale agreement acquiring Ekobit, in a transaction valued at HRK 37.389.637,59. A part of the purchase price that depends on the business performance of Ekobit in 2022 is subject to correction. According to the decision of the owners of Ekobit, a part of the price in the amount of HRK 3.266.496,00 will be paid in Span shares, for the purpose of fulfilling a Share Allocation Plan awarding employees of Ekobit.

By acquiring Ekobit, one of the leading companies specializing in software development in Croatia, Span Group has additionally enhanced its market position less than six months after it listed its shares on the Official market of Zagreb Stock Exchange. One of the primary goals of Span's IPO was to ensure further expansion and growth of the operation. The acquisition of Ekobit is a firm step in that direction and is fully in accordance with the growth strategy of Span. Owing to this transaction, both companies are expanding the portfolio of their services and customer base so they will offer their current and future customers an even higher number of advanced solutions and services.

“This is perfect news for all our stakeholders – employees, customers and shareholders. The development of software solutions is one of four strategic segments of the operation of Span, and we are now additionally enhancing it by acquiring Ekobit. We are complementary; we work on the same technologies so joining our knowledge and experience brings benefits for everybody. Since we share a similar approach when it comes to care for our employees, I believe that in that part as well, we will complement each other meaningfully, sharing the proven good HR practices, “said Nikola Dujmović, the founder and President of the Board of Span.

Ekobit is specialized in the development of software solutions, so their expertise comes to the fore through valuable intellectual property. The company is active in the market with its two products: BizDataX masking solutions, serves for obtaining test bases of production quality while protecting sensitive data of persons in compliance with GDPR; BizDataX subsetting enables the creation of smaller test bases by the selection of a relevant subset of production data.

“Entering the 30th year of operation and development of advanced software solutions, we decided that it was time to make a stride forward. We see joining Span as an opportunity for a new dimension in development of the operations and given our prolific experience in the development of software solutions, I am certain that owing to the synergy performance it brings, this acquisition will leave a strong mark and open some new opportunities in further operations of the Group, “said Goran Glišić, President of the Board of Ekobit.

By acquiring Ekobit, which primarily delivers its services to West European customers, Span is expanding its operations, especially in the DACH region. Within Span Group, Ekobit continues to operate with the existing Management as an independent business entity.