Faytech acquisition signed and sealed; 2022 sales >EUR 100m
Just before Christmas, mic announced the signing of the long-awaited acquisition of faytech. This game changing acquisition will propel mic’s sales above the EUR 100m threshold as early as 2022.
The full update is avaible on:
What's it all about ?
Just before Christmas, mic announced the signing of the long-awaited acquisition of faytech. This game changing acquisition will propel mic’s sales above the EUR 100m threshold as early as 2022. More importantly, the combined entity will create a dominant player in the field of touch screen panels at the POS with strategic production facilities in Germany and mainland China, catering into a blue-chip client base. On top, synergies of up to EUR 1m p.a. will set the stage for massive top- and bottom-line growth in the years to come. An attractive and value accretive purchase price paid out in cash (30%) and shares (70%) further bodes well to the acquisition, which is why we reiterate our BUY recommendation with increased PT of EUR 5.90 (old EUR 5.40), yielding an upside potential of more than 100%.