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Grant Thornton advises Swedish Awardit on strategic acquisition of Connex
Duesseldorf, March 9, 2023
Awardit AB, a Sweden-based provider of loyalty and incentive programs, has acquired 100 percent of the shares of Connex Group, an Austrian service provider in the field of reward and incentive programs, effective February 1, 2023. The purchase price is € 10.7 million, of which € 7.2 million will be paid in cash and €3.5 million in Awardit shares.
Grant Thornton advised Awardit on the acquisition. An interdisciplinary transaction team based in Duesseldorf consisting of Martin Festerling, Sascha Jordan and Dr. Stefan Hahn contributed to the successful completion of the transaction by providing financial due diligence, tax due diligence and other advisory services.
Awardit AB, headquartered in Stockholm, helps corporate and individual customers increase revenue and profitability by implementing and operating loyalty, incentive and gift card programs. The company provides program platforms on a software-as-a-service basis, content in the form of commerce opportunities, partner networks, and third-party gift card distribution. Awardit is the largest company in the Nordic countries in this sector.
Connex, a family-owned company founded in 1986, is one of the leading providers of loyalty and gift cards in Austria and the DACH region. The company offers leading end-to-end products and programs ranging from unique voucher-based reward and incentive solutions to innovative customer loyalty programs.
Team
Financial
Martin Festerling
Partner
+49 211 9524 8555
martin.festerling@de.gt.com
Sascha Jordan
Senior Manager
+ 49 211 9524 8288
sascha.jordan@de.gt.com
Alexander Schwendemann
Senior Consultant
+49 211 9524 8947
alexander.schwendemann@de.gt.com
Tax
Dr. Stefan Hahn
Partner
+49 211 9524 8735
stefan.hahn@de.gt.com
Dr. Nicolas Brüggen
Senior Manager
+49 211 9524 8175
nicolas.brueggen@de.gt.com
About Grant Thornton in Germany
Grant Thornton is one of the ten largest audit firms in Germany. Around 1,600 employees at eleven offices provide services to upper mid-market companies and listed companies. The audit and consultancy firm consists of the service lines Audit & Assurance, Tax, Advisory, Business Process Solutions, Legal, and Private Finance. The company is the German member firm of Grant Thornton International Ltd. The Grant Thornton network has 68,000 employees and advises companies in around 150 countries around the world. www.grantthornton.de
Contact
Susanne Gehrling
Corporate Communications
+49 69 905598 617
susanne.gehrling@de.gt.com