On August 11, 2017, the Board of Directors of Altia has approved the acquisition of 100% of the share capital of QED Systems S.L.U., a company. Boxleo Tic Group, where Altia is currently part of the same group. Once the sale has taken place, the merger will be carried out by absorption, so that QED will disappear and its assets and business will be transferred in block to Altia.
As the operation is considered a related transaction, all necessary measures have been taken to ensure that not only that the operation is in the interests of Altia, but also that it is carried out under market conditions.
With the operation and subsequent merger an increase in the 'Supply of Hardware and Software business line, which without being strategic', it is an interesting formula both for entry and retention of customers with a great consumption in technology, a commercial priority for the Group, as described in the Business Plan that is currently in force.
As a complementary reason, the transfer of ownership to Altia and a subsequent merger will entail administrative simplification and cost savings as the Group as a whole will have to manage a smaller company, Altia will incorporate the QED business into its business line and infrastructures thus generating fewer related operations. The purchase and sale operation will take place during this current month of August.