Banqup announces advanced negotiations with Fitek Oü for the sale of its Baltic companies

Core Insights - Banqup Group SA is in advanced negotiations to sell all shares in its operational Baltic companies to Fitek Oü, with a target completion date by the end of February 2026, pending approval from competition authorities in Estonia, Latvia, and Lithuania [1][5]. Group 1: Transaction Details - The proposed transaction involves an enterprise value of €9.5 million, subject to adjustments based on the net financial cash/debt position as of December 31, 2025 [5]. - The transaction is expected to enhance Banqup's focus on core digital services and optimize its print operations [3][5]. - A partnership agreement is also being negotiated, allowing Fitek to become an authorized reseller of Banqup's digital product suite in the Baltic States [5]. Group 2: Financial Performance - The Baltic companies generate an annual EBITDA of €1.3 million, with a product suite that includes €0.3 million in Digital Banqup revenue, €4.0 million in digital legacy revenue, and €10.0 million from print-related services [5]. - The transaction proceeds are anticipated to strengthen Banqup's balance sheet and working capital position [5]. Group 3: Strategic Focus - The divestment reflects Banqup's strategic focus on growing its core digital services in key European markets [3]. - The acquisition by Fitek is expected to enhance capabilities in digital business solutions and improve service offerings in the Baltic region [3].