April 23, 2021 |
Brazilian web services company Locaweb said Thursday that it agreed to buy business management software developer Bling for BRL524 million ($95.8 million), dipping into funds it raised for acquisitions in a follow-on equity offering in February.
The purchase price is subject to adjustments for net debt and working capital, and the seller, Organisys Software, will receive an earn-out payment if Bling meets certain financial targets, Locaweb said in a securities filing.
"With this acquisition, Loc
Brazilian web services company uses funds from a February follow-on to pay $96 mln for Bling