OEX closed the acquisition of ArchiDoc S.A.

On 19 January 2017 OEX S.A. acquired 100% of ArchiDoc S.A.’s shares for PLN 17.9m. The OEX Group expanded its business adding a new operating segment in which ArchiDoc S.A. and Voice Contact Center sp. z o.o. acquired earlier in January 2017 will operate.

The transaction was financed with funds from non-public bond issue program settled on 18 January 2017 that earned the company PLN 20m.

OEX S.A. signed a preliminary agreement for the acquisition of ArchiDoc S.A. in September 2016. The transaction’s ultimate terms provide for additional payments depending on ArchiDoc S.A.’s financial performance to be settled after the closure of 2017. Total the amount of the price and additional payments must not exceed PLN 52m.

“The acquisitions of ArchiDoc and Voice will have a significant impact on the Group’s 2017 performance,” said Jerzy Motz, the CEO of OEX S.A.

ArchiDoc is among leading companies on the Polish market of document scanning and archiving and handling back office processes such as office management and electronic document workflow. The company supports its customers with creating the paperless office. In partnership with Voice Contact Center, it also offers support as regards selected customer service processes with the use of both paper documents, telephone contacts, e-mails as well as text messages and chats. ArchiDoc’s customers include the largest Polish insurance, financial power and telecom sector companies.

“The new segment is another important area of modern business services we want to develop. We can see large potential in services related to the digitalization of data sets and the development of customer service process outsourcing. We want to foster partnerships between the Group members which will enable us to offer comprehensive services to our customers, especially in the e-commerce area,” said Jerzy Motz, the CEO of OEX S.A.

The issue of three-year series A bonds which helped finance the deal was the first issue as part of the bond issue program of a total maximal value of PLN 56m. The Board of Directors of OEX S.A. plans to introduce the bonds to trading on the Catalyst market.

The series A bonds’ interest rate is variable and determined based on WIBOR 6M increased by a margin totalling 4.20%. Interest is payable semi-annually. 20,000 series A bonds were issued with a nominal value of PLN 1,000 each and a redemption date of 17 January 2020. The bonds are not secured.