Additional share purchases by management in White Pearl Technology Group
Further to recently reported insider purchases in White Pearl Technology Group AB (Nasdaq First North: WPTGB, OTC: WPTGF), the company today announced that share purchases totalling 20,000 shares were made by group managers during the last week.
Mr Chettan Ottam, Chief Financial Officer has bought 10,000 shares, making his total holdings 1,194,259 shares. Mr Ashley De Klerk, Executive Vice President Corporate Strategy has also bought 10,000 shares making his total holdings 54,410 shares.
The next financial report from WPTG is the Q1 report on April 22, and the annual report will be published on April 28.
For more information, please contact: Investor Relations at White Pearl Technology Group AB Email: ir@whitepearltech.com Phone: +46 733 611 000.
The company’s Certified Adviser is Amudova AB, email: info@amudova.se.
About White Pearl Technology Group AB: White Pearl Technology Group AB (Nasdaq First North: WPTGB, OTC: WPTGF) is a global technology company specialising in digital transformation solutions. With a presence in over 30 countries and a team of more than 750 experts, WPTG helps organisations navigate the complexities of the digital age, offering services ranging from ICT and system integration to business software and digital innovation.
White Pearl Technology Group AB Revises Financial Calendar for 2025
White Pearl Technology Group AB (Nasdaq First North: WPTGB, OTC: WPTGF) today announced a revised financial calendar for 2025, with the publication dates for the Q1 and Q3 reports brought forward. The Q1 report will now be published on April 22, 2025 (previously scheduled for April 24), and the Q3 report will now be published on October 28, 2025 (previously scheduled for October 30).
Updated Financial Calendar for 2025
- April 22, 2025 – Q1 Report
- April 28, 2025 – Annual Report 2024
- May 20, 2025 – Annual General Meeting
- August 6, 2025 – Q2 Report
- October 28, 2025 – Q3 Report
- February 4, 2026 – Q4 Report and Year-End Report 2025
About White Pearl Technology Group AB
White Pearl Technology Group AB (WPTG) is a global technology company specialising in digital transformation solutions. With a presence in over 30 countries and a team of more than 750 experts, WPTG helps organisations navigate the complexities of the digital age, offering services ranging from ICT and system integration to business software and digital innovation.
For more information, please contact:
Investor Relations
White Pearl Technology Group AB
Email: ir@whitepearltech.com
Phone: +46 733 611 000
The company’s Certified Adviser is Amudova AB, email: info@amudova.se, phone: +46 8 546 017 58.
White Pearl Technology Group AB Appoints Stephen Nurcombe-Thorne as SVP of AI, Data Science and Blockchain
White Pearl Technology Group AB (Nasdaq First North: WPTGB, OTC: WPTGF), a global leader in digital transformation solutions, today announced the appointment of Stephen Nurcombe-Thorne as Senior Vice President of AI, Data Science and Blockchain. This strategic promotion reflects WPTG’s commitment to strengthening its leadership in emerging technologies and positions the company for continued growth in these high-value domains.
Strategic Appointment
Nurcombe-Thorne, who previously served as Chief Architect & Solutions Director at WPTG, brings over 25 years of transformative leadership experience across Europe, the Middle East, and Africa. In his new role, he will lead WPTG’s global initiatives in artificial intelligence, data science, and blockchain technologies, driving innovation and value creation for clients across all markets.
Marco Marangoni, CEO of White Pearl Technology Group, commented: “Stephen has been instrumental in shaping our technology strategy and delivering exceptional value to our clients. His promotion to SVP of AI, Data Science and Blockchain recognises both his contributions to date and the critical importance of these technologies to our future growth. Under Stephen’s leadership, we expect to significantly accelerate our capabilities in these areas, creating differentiated solutions that address our clients’ most complex challenges.”
Proven Track Record
During his tenure at WPTG, Nurcombe-Thorne has played a pivotal role in transforming the organisation from a product-centric to a solution-focused approach. His leadership has been central to several key achievements:
- Led global innovation and transformation initiatives
- Established thought leadership programs that improved market positioning
- Developed and implemented groundbreaking AI solutions for fraud detection and operational optimisation
- Successfully built and led teams of industry and technical consultants across multiple geographies
Nurcombe-Thorne commented on his appointment: “I am honoured to take on this new role at such an exciting time for WPTG. The convergence of AI, data science, and blockchain technologies presents unprecedented opportunities for our clients to transform their operations and create new value. Our recent successes have demonstrated the power of these technologies, and I look forward to working with our talented teams to further enhance our capabilities and deliver innovative solutions that drive measurable impact for our clients worldwide.”
Strategic Focus
In his new position, Nurcombe-Thorne will focus on:
- Expanding WPTG’s AI and machine learning capabilities across all business units
- Developing proprietary frameworks and solutions in data science that address industry-specific challenges
- Exploring blockchain applications for supply chain, financial services, and public sector clients
- Building strategic partnerships with leading technology providers and research institutions
- Attracting and developing top talent in AI, data science, and blockchain technologies
This appointment aligns with WPTG’s updated Vision 2028 strategic growth plan, which emphasises technological innovation as a key driver of future growth and profitability.
About White Pearl Technology Group AB
White Pearl Technology Group AB (WPTG) is a global technology company specialising in digital transformation solutions. With a presence in over 30 countries and a team of more than 750 experts, WPTG helps organisations navigate the complexities of the digital age, offering services ranging from ICT and system integration to business software and digital innovation.
For more information, please contact:
Investor Relations
White Pearl Technology Group AB
Email: ir@whitepearltech.com
Phone: +46 707 340804
The company’s Certified Adviser is Amudova AB, email: info@amudova.se, phone: +46 8 546 017 58.
WPTG AB Outlines Strategic Initiatives Supporting Revised Financial Forecast for 2028
Today, White Pearl Technology Group AB (Nasdaq First North: WPTGB, OTC: WPTGF) provided a detailed overview of the strategic initiatives supporting its recently announced revised Vision 2028 financial targets. This follows the March 12 announcement in which the Company raised its long-term revenue targets.
Comparison of Previous and Revised Financial Targets
| Year |
Previous Target |
|
|
Revised Target |
|
|
Revenue Change |
|
Revenue (MSEK) |
EBITDA Margin |
EBITDA (MSEK) |
Revenue (MSEK) |
EBITDA Margin |
EBITDA (MSEK) |
|
| 2021 (A) |
134.9 |
11.0% |
14.9 |
135 |
11.0% |
14.85 |
– |
| 2022 (A) |
182.5 |
11.1% |
20.3 |
183 |
11.1% |
20.31 |
– |
| 2023 (A) |
239.6 |
14.1% |
33.8 |
240 |
14.1% |
33.84 |
– |
| 2024 |
290 |
>14% |
– |
310 |
16.3% |
50.53 |
+6.9% |
| 2025 (E) |
370 |
>14% |
– |
470 |
15.4% |
72.38 |
+27.0% |
| 2026 (E) |
455 |
>16% |
– |
572 |
16.1% |
92.09 |
+25.7% |
| 2027 (E) |
570 |
>17% |
– |
694 |
17.0% |
117.98 |
+21.8% |
| 2028 (E) |
700 |
>17% |
– |
827 |
17.1% |
141.42 |
+18.1% |
Note: (A) denotes actual results, (E) denotes estimates. These figures include organic growth and planned acquisitions, excluding depreciation, interest, taxes, and write-offs.
Strategic Growth Pillars
WPTG’s enhanced growth forecast is built upon five strategic pillars designed to drive sustainable long-term growth:
1. Geographic Expansion
The Company continues to strengthen its presence in established markets while strategically entering new regions:
- Nordic Region: WPTG’s recent acquisition of Lumin4ry has significantly enhanced its capabilities in the Swedish market. Integration is progressing well, and cross-selling opportunities are already emerging.
- Middle East & Africa: Strong demand continues in these regions, with several major contracts secured in Q4 2024. The Company has successfully expanded its client base in Saudi Arabia, UAE, Egypt and South Africa.
- Latin America & North America: WPTG has established initial operations in Brazil and is preparing market entry into the United States, with first client engagements expected in Q2 2025.
2. Technology Portfolio Evolution
WPTG is executing a strategic shift in its technology approach:
- Moving from single ERP implementations to best-of-breed point solutions that address specific business challenges
- Enhancing AI and machine learning capabilities across all service offerings
- Developing proprietary frameworks for municipal transformation and industrial technology solutions
Stephen Nurcombe-Thorne, SVP of AI, Data Science and Blockchain, commented: “Our revised growth projections are underpinned by a fundamental shift in our technology approach. We’re moving beyond single ERP solutions to deploy best-of-breed point solutions that address specific business challenges across diverse markets. This technology-agnostic approach allows us to create tailored solutions that integrate AI and machine learning capabilities for fraud detection, revenue optimisation, and digital engagement. Our 2024 results demonstrate how this approach is paying dividends. By building proprietary frameworks for municipal transformation and industrial technology solutions, we’re not just implementing technology — we’re creating intellectual property that will drive sustainable growth through 2028 and beyond.”
3. Operational Excellence
To maintain strong profitability while growing rapidly, WPTG is implementing an optimised delivery model:
- Balancing onshore and offshore resources to ensure cost efficiency and high-quality delivery
- Enhancing project management methodologies to improve margins and client satisfaction
- Implementing standardised delivery frameworks that accelerate implementation timelines
4. Acquisition Strategy
WPTG will continue pursuing strategic acquisitions to complement organic growth:
- Focus on companies that bring complementary technologies or expand market reach
- Disciplined approach to valuation and integration planning
- Near-term focus on Nordic and North American targets
Ashley de Klerk, Executive Vice President, noted: “Our acquisition strategy is a key component of our growth plan. The success of the Lumin4ry integration demonstrates our ability to identify, acquire, and integrate complementary businesses. While the Lumin4ry model temporarily impacts our EBITDA margins in 2025, our planned investments in higher-margin service offerings are expected to restore and enhance profitability from 2026 onwards.”
5. Talent Development
WPTG recognises that its success depends on attracting and retaining top talent:
- Expanded training programs focused on emerging technologies
- Enhanced career development paths to improve retention
- Structured knowledge transfer processes to scale expertise across regions
2025 Focus Areas
For the current fiscal year, WPTG is prioritising:
- Successful integration of Lumin4ry and realisation of cross-selling opportunities
- Expansion of AI and data analytics service offerings across all regions
- Launch of proprietary solutions for municipal revenue enhancement and industrial process optimisation
- Establishment of initial North American presence
Marco Marangoni, CEO of White Pearl Technology Group, concluded: “The strategic initiatives we’ve outlined today provide the foundation for achieving our ambitious Vision 2028 targets. Our diverse geographic presence, evolving technology portfolio, and talented team position us to capitalise on the growing global demand for digital transformation services. While we anticipate some margin pressure in 2025 due to our investments in strategic growth initiatives, we’re confident these investments will drive enhanced profitability in subsequent years.”
About White Pearl Technology Group AB
White Pearl Technology Group AB (WPTG) is a global technology company specialising in digital transformation solutions. With a presence in over 30 countries and a team of more than 750 experts, WPTG helps organisations navigate the complexities of the digital age, offering services ranging from ICT and system integration to business software and digital innovation.
For more information, please contact:
Investor Relations
White Pearl Technology Group AB
Email: ir@whitepearltech.com
Phone: +46 707 340804
The company’s Certified Adviser is Amudova AB, email: info@amudova.se, phone: +46 8 546 017 58.
White Pearl Technology Group AB Appoints Peter Ejemyr as Vice President Investor Relations
White Pearl Technology Group AB (Nasdaq First North: WPTGB, OTC: WPTGF) today announced the appointment of Peter Ejemyr as Vice President Investor Relations. This newly created position, based in Stockholm, strengthens the company’s executive team and underscores WPTG’s commitment to enhancing investor communications.
Ejemyr brings extensive investor relations experience to WPTG, having previously held senior IR positions at prominent Swedish companies, including Elekta AB and Biacore AB.
Marco Marangoni, CEO of White Pearl Technology Group, commented: “The creation of this dedicated VP Investor Relations role signals our clear ambition to enhance our communication with shareholders and other stakeholders across all our markets. Peter’s extensive experience and strategic approach to investor relations will be invaluable as we continue our growth journey and work to increase market awareness of our vision and achievements.”
“I am very excited to join White Pearl Technology Group at this pivotal moment in the company’s development,” said Ejemyr. “WPTG has demonstrated impressive growth and has a compelling strategic vision. I look forward to improving the company’s visibility, transparency, and accessibility in the investor community while helping to communicate our unique value proposition to the market.”
Ejemyr assumes his role effective immediately and will report directly to the CEO.
About White Pearl Technology Group AB
White Pearl Technology Group AB (WPTG) is a global technology company specialising in digital transformation solutions. With a presence in over 30 countries and a team of more than 750 experts, WPTG helps organisations navigate the complexities of the digital age, offering services ranging from ICT and system integration to business software and digital innovation.
For more information, please contact:
Investor Relations
White Pearl Technology Group AB
Email: ir@whitepearltech.com
Phone: +46 733 611 000
The company’s Certified Adviser is Amudova AB, email: info@amudova.se, phone: +46 8 546 017 58.
White Pearl Technology Group AB Increases Financial Forecast for 2028
White Pearl Technology Group AB (Nasdaq First North: WPTGB, OTC: WPTGF) today announced a substantial upward revision to its Vision 2028 strategic growth plan, with revenue targets increased across all future years. The 2028 revenue target has been raised by 18.1% to SEK 827 million (from SEK 700 million), while nearer-term projections show even larger increases, with the 2025 revenue target up by 27.0% to SEK 470 million. These revisions reflect the Company’s stronger-than-expected performance in 2024, where actual revenue of SEK 310 million exceeded previous forecasts by 6.9%, and demonstrate increased confidence in WPTG’s long-term growth trajectory across all markets.
The new forecast in detail can be found below.
Comparison of Previous and Revised Financial Targets
| Year |
Previous Target |
|
|
Revised Target |
|
|
Revenue Change |
|
Revenue (MSEK) |
EBITDA Margin |
EBITDA (MSEK) |
Revenue (MSEK) |
EBITDA Margin |
EBITDA (MSEK) |
|
| 2021 (A) |
134.9 |
11.0% |
14.9 |
135 |
11.0% |
14.85 |
– |
| 2022 (A) |
182.5 |
11.1% |
20.3 |
183 |
11.1% |
20.31 |
– |
| 2023 (A) |
239.6 |
14.1% |
33.8 |
240 |
14.1% |
33.84 |
– |
| 2024 |
290 |
>14% |
– |
310 |
16.3% |
50.53 |
+6.9% |
| 2025 (E) |
370 |
>14% |
– |
470 |
15.4% |
72.38 |
+27.0% |
| 2026 (E) |
455 |
>16% |
– |
572 |
16.1% |
92.09 |
+25.7% |
| 2027 (E) |
570 |
>17% |
– |
694 |
17.0% |
117.98 |
+21.8% |
| 2028 (E) |
700 |
>17% |
– |
827 |
17.1% |
141.42 |
+18.1% |
Note: (A) denotes actual results, (E) denotes estimates. These figures include organic growth and planned acquisitions and exclude depreciation, interest, taxes, and write-offs.
Marco Marangoni, CEO of White Pearl Technology Group, commented: “Our exceptional 2024 results, with revenue of SEK 310 million representing 6.9% growth over our previous forecast, have given us confidence to significantly raise our long-term financial targets. The updated Vision 2028 plan reflects the accelerating momentum of our business model and the increasing demand for our digital transformation services across global markets.”
The Company will provide more detailed information on the strategic initiatives supporting these targets in a follow-up announcement.
This information is regulated information that White Pearl Technology Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out below at 11:00 CET on March 12, 2025.
About White Pearl Technology Group AB
White Pearl Technology Group AB (WPTG) is a global technology company specialising in digital transformation solutions. With a presence in over 30 countries and a team of more than 750 experts, WPTG helps organisations navigate the complexities of the digital age, offering services ranging from ICT and system integration to business software and digital innovation.
For more information, please contact:
Investor Relations
White Pearl Technology Group AB
Email: ir@whitepearltech.com
Phone: +46 707 340804
[Correction: Shares in directed issue: 251,256, not 238,854] WPTG acquires Nordic technology consultancy Nuport and resolves on a directed share issue
White Pearl Technology Group AB (publ) (“WPTG”) has entered into an agreement regarding the acquisition of, and taking possession of, all shares (the “Shares”) in Nuport Sverige AB (“Nuport”). The seller of Nuport Sverige AB will receive newly issued shares in WPTG through a directed share issue.
Nuport is one of Sweden’s leading SAP consultancies and brings 15 skilled technology consulting professionals and established customer relationships in the Swedish market. The integration enables WPTG to leverage its extensive global delivery network of over 400 consulting professionals across India, Egypt, South Africa, and Zimbabwe into the Nordic market, where this sector currently represents approximately 45% of the Group’s revenue.
The consideration will be paid through a directed share issue of 251,256 shares at SEK 5.97 per share (based on 10-day VWAP), still representing a value of SEK 1,500,000 as previously announced. The shares issued as consideration are subject to a 12-month lock-in period with a staged release of 25% per quarter. WPTG is now taking an important strategic step in its Nordic expansion strategy, providing a platform for expansion in the region.
Nuport is a modern, multifaceted consultancy based in Sweden, with particular expertise in SAP solutions and services. The organisation is driven by diverse perspectives, backgrounds, and experiences, with deep knowledge across multiple industries. Nuport supports organisations through digital transformation journeys, offering a full spectrum of enterprise consulting services and SAP implementation expertise.
“This acquisition marks a significant milestone in our Nordic expansion strategy. Nuport’s strong local presence and expertise complement our global capabilities perfectly, allowing us to serve customers across the Nordic region better,” says Marco Marangoni, CEO of White Pearl Technology Group.
“Joining WPTG opens exciting opportunities for both our team and customers. We can now offer an expanded range of services and leverage WPTG’s global resources while maintaining our commitment to excellence in consulting services,” says Mikael Gavelin, CEO of Nuport, who will continue leading the operation during the integration phase.
The transaction, in brief
● WPTG has acquired and taken possession of the Shares on December 5, 2024.
● The consideration will be paid through a directed share issue of 251,256 shares at SEK 5.97 per share, representing a value of SEK 1,500,000.
● Based on the authorisation granted by the Extraordinary General Meeting on November 8, 2024, the Board of Directors has resolved on a new share issue to the seller of Nuport, with deviation from the shareholders’ preferential rights.
● The shares issued as consideration are subject to a 12-month lock-in period with a staged release of 25% per quarter.
● Following the registration of the new shares, WPTG’s share capital will increase from SEK 597,832.84 to SEK 603,360.48.
● The share issue represents a dilution of approximately 0.9% for existing shareholders.
Directed Issue
The Board of Directors has based on the authorisation granted by the Extraordinary General Meeting on November 8, 2024, resolved on a directed share issue of 251,256 shares in WPTG, with deviation from the shareholders’ preferential rights, at a subscription price of SEK 5.97 per share. The reason for the deviation from the shareholders’ preferential rights is that the acquisition is in accordance with the Company’s strategy and that it is considered to be most beneficial for the Company and its shareholders. Following the registration of the issue, the total number of shares in the Company will increase accordingly. This gives a dilution for existing shareholders of approximately 0.9 per cent.
For more information:
Marco Marangoni, CEO White Pearl Technology Group AB (publ) Phone: +598 93 370 044 E-mail: marco.marangoni@whitepearltech.com
Investor Relations White Pearl Technology Group AB E-mail: ir@whitepearltech.com Phone: +46 707 340804
About Nuport
Nuport is a modern, multifaceted consultancy based in Sweden, with particular expertise in SAP solutions and services. The organisation is driven by diverse perspectives, backgrounds, and experiences, with deep knowledge across multiple industries. For more information, see www.nuport.se.
About WPTG
White Pearl Technology Group AB (WPTG) is a global technology company specialising in digital transformation solutions. With a presence in over 30 countries and a team of more than 650 experts, WPTG helps organisations navigate the complexities of the digital age. For more information, see www.whitepearltech.com.
White Pearl Technology Group AB (publ) is listed on the Nasdaq First North Growth Market. The Company’s Certified Adviser is Amudova AB, Box 5855, SE-102 40 Stockholm, Sweden, tel: +46 (0)8-546 017 58, info@amudova.se.
This information is information that White Pearl Technology Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above on March 11, 2025.
White Pearl Technology Group AB: Invitation to Investor Update on OTC Listing Implications
White Pearl Technology Group AB (WPTG) invites investors, analysts, and media to participate in a special investor update focused on the company’s OTC listing and its strategic implications on Wednesday, March 5, 2025, at 13:00 CET.
The update will feature presentations from WPTG’s executive management team. The management team will outline the significance of the OTC listing for WPTG, including enhanced market access, increased liquidity opportunities, and the implications for both existing and potential investors.
This event presents a valuable opportunity for stakeholders to understand how the OTC listing fits into WPTG’s broader growth strategy and international expansion plans. The management team will address key questions regarding trading mechanics, potential market impact, and long-term benefits for shareholders. The presentation will be held in English.
To participate in this important investor update, please register using the following link: https://whitepearltech.com/investor-update/
A recording of the presentation will be available on the company’s website after the event.
For more information, please contact:
Investor Relations Manager
White Pearl Technology Group AB
Email: ir@whitepearltech.com
Phone: +46 707 340804
The company’s Certified Adviser is Amudova AB, email: info@amudova.se.
About White Pearl Technology Group AB:
White Pearl Technology Group AB (WPTG) is a global technology company specialising in digital transformation solutions. With a presence in over 30 countries and a team of more than 750 experts, WPTG helps organisations navigate the complexities of the digital age, offering services ranging from ICT and system integration to business software and digital innovation.
White Pearl Technology Group AB: OTC Markets Group Welcomes White Pearl Technology Group AB to OTC
White Pearl Technology Group AB (Nasdaq First North Growth Market Stockholm: WPTG; OTCQX: WPTGF) is pleased to announce that it has qualified to begin trading on the OTCQX® Best Market. The Company’s shares will begin trading today on OTCQX under the symbol “WPTGF.
The OTCQX Market is designed for established, investor-focused international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practices in corporate governance, and demonstrate compliance with applicable securities laws. Trading on OTCQX will enhance the company’s visibility and accessibility to U.S. investors.
U.S. investors can find the company’s current financial disclosure and Real-Time Level 2 quotes on www.otcmarkets.com.
Marco Marangoni, CEO of White Pearl Technology Group, commented: “We are thrilled to begin trading on the OTCQX, which represents an important milestone in our growth strategy. This opportunity enhances our visibility within the U.S. investment community and provides a convenient way for North American investors to trade our shares in their local markets and currency. As we continue to expand our global footprint, particularly with our strategic focus on the North American market, trading on OTCQX will support our efforts to diversify our shareholder base and increase our international presence.”
The Company will continue to trade on Nasdaq First North Growth Market Stockholm under the symbol “WPTG.”
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Their data-driven disclosure standards form the foundation of their three public markets: OTCQX® Best Market, OTCQB® Venture Market, and Pink® Open Market. OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. The innovative model offers companies more efficient access to the U.S. financial markets.
OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.
About White Pearl Technology Group AB
White Pearl Technology Group AB (WPTG) is a global technology company specialising in digital transformation solutions. With a presence in over 30 countries and a team of more than 750 experts, WPTG helps organisations navigate the complexities of the digital age, offering services ranging from ICT and system integration to business software and digital innovation.
This press release contains forward-looking statements that reflect the Company’s current views with respect to future events. These forward-looking statements may be identified by the use of forward-looking terminology. All statements other than statements of historical facts included in this press release are forward-looking statements. The Company undertakes no obligation to update these forward-looking statements.
This information is such that White Pearl Technology Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out below at 08:00 CET on February 28, 2025.
For further information, please contact:
Investor Relations
White Pearl Technology Group AB
Email: ir@whitepearltech.com
Phone: +46 707 340804
The company’s Certified Adviser is Amudova AB, email: info@amudova.se, phone: +46 8 546 017 58.
White Pearl Technology Group AB: Correction – Acquisition of Lumin4ry AB
INSIDE INFORMATION – CORRECTION
A previous version of this press release published on 24 February 2025 at 10:00 CET incorrectly referred to the acquired company as “Lumi4ry AB”. The correct company name is “Lumin4ry AB”. Below is the complete corrected press release.
White Pearl Technology Group AB (WPTG) has today entered into a binding agreement to acquire 100% of the shares in Lumin4ry AB (“Lumin4ry”), a Swedish IT services provider. Lumin4ry, which has a workforce of 100 people based in Stockholm, is expected to contribute with an annual revenue of approximately SEK 140 million and a profit of SEK 5 million. The purchase price amounts to SEK 9 million, paid in cash and a performance-based earn-out structure over 4 years, with potential additional consideration of up to SEK 11 million in WPTG shares. The acquisition strengthens WPTG’s presence in the Nordic market and creates significant synergy opportunities.
Transaction Highlights:
- Purchase price: Initial cash payment of SEK 9 million
- Performance-based earn-out structure over 4 years, with potential additional consideration of up to SEK 11 million in WPTG shares
The acquisition will be financed through existing cash resources and newly issued WPTG shares for the earn-out component. The earn-out structure is divided into four periods:
- Year 1: Up to SEK 2.75M in shares
- Year 2: Up to SEK 2.75M in shares
- Year 3: Up to SEK 2.75M in shares
- Year 4: Up to SEK 2.75M in shares
Strategic Rationale:
- Strengthens WPTG’s direct presence in the Swedish market
- Adds complementary IT service capabilities
- Creates cross-selling opportunities in the Nordic region
- Provides access to skilled IT professionals
- Expected to be earnings accretive from year one
Marco Marangoni, CEO of White Pearl Technology Group, commented: “The acquisition of Lumin4ry marks an important step in our Nordic growth strategy. Their strong client relationships and technical expertise complement our existing operations and will help accelerate our expansion in Sweden.”
Tony Lynden, CEO of Lumin4ry, added: “Joining WPTG provides an excellent platform for our continued growth. We look forward to leveraging WPTG’s international presence and broader service offering to benefit our clients.”
This information is such that White Pearl Technology Group AB is obliged to make it public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out below at 10:30 CET on 21 February 2025.
For further information, please contact: Investor Relations White Pearl Technology Group AB Email: ir@whitepearltech.com Phone: +46 707 340804
The company’s Certified Adviser is Amudova AB, email: info@amudova.se, phone: +46 8 546 017 58.
About White Pearl Technology Group AB:
White Pearl Technology Group AB (WPTG) is a global technology company specialising in digital transformation solutions. With a presence in over 30 countries and a team of more than 650 experts, WPTG helps organisations navigate the complexities of the digital age, offering services ranging from ICT and system integration to business software and digital innovation.
