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Netcall Acquires Belgium-Based Oakwood Technologies for Initial Cash Consideration of EUR 1.2m
Tuesday 20 October 2020

UK-based intelligent automation and customer engagement software provider Netcall plc (AIM: NET) has acquired Belgium-based AI-powered RPA provider Oakwood Technologies BV (trading as Automagica) for an initial cash consideration of EUR 1.2m, the company said.

The acquisition was completed on an unconditional basis, with the consideration comprising an initial cash consideration of EUR 1.2m (USD 1.42m) (with 10% being held back for a year) and a potential further consideration of up to EUR 0.9m (USD 1.06m) in cash and up to EUR 0.9m (USD 1.06m) in Netcall shares, payable dependent on achieving specified performance targets either during or over the 2-year period from completion of the acquisition.

The acquisition is being funded from the company's existing cash reserves.

The acquisition will provide an expanded market opportunity, broadening its digital transformation offering.

Netcall intends to integrate Automagica's RPA solution into its Liberty platform making it a one-stop shop for process automation and customer engagement, blending low-code, RPA, chatbots, digital messaging and contact centre solutions.

Automagica provides widely used commercial and open source Robotic Process Automation (RPA) software.

Netcall plc helps organisations transform their businesses faster and more efficiently, empowering them to create a leaner, more customer-centric organisation.
Date Published: 20/10/2020