Qwamplify : Qwamplify - Sale of Nordic subsidiaries

About this update from Qwamplify Sa

[{"type":"text","content":"PRESS RELEASESALE OF NORDIC SUBSIDIARIES (Finland, Sweden and Norway)\nTO THE LISTED SWEDISH MARKETING GROUP ENIRO\nLevallois-Perret, July 1, 2025 – Qwamplify today announces the sale of 100% of its Nordic holding company, Qwamplify Nordics Oy (Finland), and his Swedish and Norwegian subsidiaries, to Eniro, a Swedish marketing group headquartered in Stockholm and listed on the Nasdaq Stockholm stock exchange.STRATEGIC REFOCUS ON FRANCEThe subsidiary was acquired in two phases in 2013. It experienced strong growth, multiplying its revenue by four over 11 years, particularly in the shopper activation segment. The agency was also certified as a Google Partner in early 2025.In 2024 (15-month fiscal year), Qwamplify Nordics generated €4.4 million in revenue and €2.9 million in Gross Margin, representing 10% of the Group's total revenue and Gross Margin for the year, with a slight operating loss. The subsidiary has a team of 25 employees.The sale price of the shares is €700K (including cash), and will contribute to strengthening the Group's net cash position. The entity will be deconsolidated as of July 1st, 2025.This sale allows the Group to focus on its 450 clients and operations in France, where it will now no longer have any offices abroad. The Group is thus refocusing on its core business: the Bespoke media agency and the Qwamplify digital sales house.Cédric RENY, Chairman and Founder of Qwamplify, stated: \"This marks an important milestone in the strategic refocus of our activities in France. It clarifies our offering and strengthens our positioning on the French market, with the ambition to become a leading player in 360° media agencies. I'm very pleased with the transfer to Eniro Group, a company firmly rooted in the Nordic region. Their strong momentum will allow the teams to accelerate their growth with new opportunities and high-value synergies. I sincerely thank all the teams for their work, especially Robert Olkinuora, the founder, and Ingrid Engen and Dennis Smeds, who have successfully led the business since 2020.”Hosni Teque-Omeirat, CEO of Eniro Group AB, added: \"We are delighted with this acquisition and to welcome the talented Qwamplify Nordic team to the Eniro Group. We have great ambitions for them. There are significant synergies between our businesses and client bases, and we will give the compa...

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