ETPLAN OYJStock exchange press release, February 22022, To 10:30 a.m. EDT

Etteplan strengthen its position in Sweden and acquires Syncore Technologies AB, a technology services company specializing in embedded systems. The acquisition complies with from Etteplan growth strategy because it complements our expertise and increases our international presence.

As part of the financing of the operation, Etteplan OyjBoard of Directors, at its meeting on February 1, 2022decided on the capital increase subject to the issuance authorization given to the Board of Directors by the General Meeting of April 8, 2021. The directed share issue is linked to the acquisition of Syncore Technologies AB. Pursuant to the terms of the transaction, the purchase price will be paid by issue of shares to the sellers and in cash. The sale contract, condition of the decision, was signed today, February 2, 2022and at the same time the sellers subscribed for 117,485 Etteplan new shares in partial payment of the purchase amount. The subscription price per share to be paid for the shares is €16.42. (For more information on the terms of the Directed Issue, see the bulletin below.)

The acquisition strengthens Etteplan’s embedded systems project business by Sweden

Etteplan acquired Swedish technology services company Syncore, which specializes in advanced embedded systems. Thanks to the acquisition, Etteplan will significantly strengthen its ability to provide solutions and embedded software in Sweden and strengthen its project business expertise in embedded systems. The acquisition is a continuation of investments in the digitization and development of embedded systems and software Etteplan has done in recent years.

Founded in 2000, Syncore specializes in advanced embedded system projects such as design, hardware and software development and product lifecycle services, especially for customers in industrial systems, aerospace and of the defense. In 2020, Syncore’s net sales were approximately 5 million euros and employs 46 embedded system experts in Linköping, Sweden. The parties have agreed not to publish the purchase price.

“Syncore’s very strong project expertise and extensive experience as a provider of design services and embedded solutions reinforce Etteplanthe market position of Sweden and supports the development of EtteplanManaged Services. The acquisition also broadens our service offering and opens up many interesting growth prospects both for Etteplan and Syncore,” says Juha NakkiPresident and CEO of Etteplan.

Following the acquisition, Etteplan employs more than 800 experts in embedded systems and software development, including more than 150 in Sweden. In total, Etteplan employs nearly 700 experts in Sweden.

“With the acquisition, our project expertise in Sweden will be significantly strengthened and together we will form an attractive supplier for Swedish and international customers. We already have common clients and we have worked on common projects. I warmly welcome the professional experts at Syncore Etteplan and continue the cooperation that has already begun,” says Tero Leppänen, EtteplanSenior Vice President of Software and Embedded Solutions at .

“We see a lot of opportunities for collaboration – as part of Etteplan, we can reach more customers and execute more complex projects. It also provides our company and our colleagues with various opportunities for development and growth,” OfSays Syncore CEO

Issuance of shares directed to Syncore owners

At its meeting held on February 1, 2022the board of directors of Etteplan Oyj (the “Company”) took a conditional decision on the managed capital increase on the basis of the authorization to issue shares granted to the Board by the General Meeting of April 8, 2021. The directed share issue is linked to the acquisition of Syncore Technologies AB. Pursuant to the terms of the transaction, the purchase price will be paid by issue of shares to the sellers and in cash.

The sale contract, condition of the decision, was signed today, February 2, 2022and at the same time the seller subscribed for 117,485 Etteplan shares in partial payment of the purchase price. The subscription price per share to be paid for the shares is €16.42. Payment of the subscription price was made by offsetting against the Company’s acquisition debt. The company’s unrestricted equity will increase by €1,929,103.70.

The new shares subscribed within the framework of the managed capital increase will be listed on the The commercial register about 19.4.2022 and in the account registration system maintained by Euroclear Finland Oy on about 2.5. 2022. The shares will be admitted to public trading once said listings have been made. However, trading in the new shares will only be possible after three years, when the transfer restriction agreed in the context of the transaction has expired.

The subscription prices for the shares will be fully recorded in the Company’s mutual fund and the share capital will not be increased on the occasion of the issue. The total number of Etteplan shares after issuance is 25,200,793. The shares to be issued represent approximately 0.47% of the total number of shares of the Company before issuance and approximately 0.47% of the total amount after issuance. The new shares give right to a dividend as of the 2022 financial year. After the issue, the Board of Directors may, with the authorization of the General Meeting, decide to issue a maximum of 2,262,515 shares.

Hope, Finland, February 2, 2022

Etteplan Oyj

board of directors

Distribution:
Nasdaq helsinki
Main media
www.etteplan.com

Additional information:
Juha Näkki, CEO, tel. +358 10 307 2077Outi Torniainen, SVP, Communications and Marketing, tel. +358 10 307 3302

Etteplan in short

Etteplan provides solutions for software and embedded solutions, solutions for industrial equipment and plant engineering and technical documentation solutions to the world’s leading companies in the manufacturing industry. Our services aim to improve the competitiveness of our customers’ products, services and engineering processes throughout the product life cycle. The results of from Etteplan innovative engineering is found in many industrial solutions and everyday products.

In 2020, Etteplan achieved a turnover of approximately 260 million euros. The company currently has more than 3,800 professionals in Finland, Sweden, the Netherlands, Germany, Poland, Denmark and China. from Etteplan shares are listed on Nasdaq Helsinki Ltd under the symbol ETTE. www.etteplan.com

https://news.cision.com/etteplan/r/etteplan-acquires-syncore–an-embedded-system-specialist-in-sweden—a-directed-share-issue-to-the-o,c3497103

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