Thunderful Group enters into an agreement regarding changes and payment of additional earn-out component in relation to the acquisition of Robot Teddy

Thunderful Group (”Thunderful”) announces today that an agreement has been entered into with the sellers of Robot Teddy to settle the additional earn-out components earlier than planned.

In accordance with previously communication, there was an opportunity for the sellers of Robot Teddy to receive an additional earn-out component in relation to the sale of the company which took place on October 27, 2021. In addition to the initial consideration, there was the possibility of additional earn-out components of maximum MGBP 12.0 which would be paid out provided that certain agreed-upon financial and operational targets were met on a yearly basis until 31 December 2025.

Thunderful can today state that an agreement has been entered into with the sellers of Robot Teddy to settle the additional earn-out components. Thunderful will pay 1 MGBP to the sellers in additional earn-out component in cash. No other additional earn-out components relating to the acquisition of Robot Teddy may be paid to the sellers.

This information is such information as Thunderful 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 20:00 CEST on 22 August 2022.