Growens announces the sale of Datatrics to Dutch group Spotler (via its subsidiary Squeezely) for a total consideration of 1.66M Euro

Growens announces the sale of Datatrics to Dutch group Spotler (via its subsidiary Squeezely) for a total consideration of 1.66M Euro Focus on acceleration of future growth and development of Beefree Milan, 9 October 2023 – Growens S.p.A. – ticker GROW - (the “Company” or the “Issuer” or “Growens”), a company admitted to trading on the multilateral trading facility Euronext Growth Milan and operating in the cloud marketing technology field, announces the signing of a binding agreement (the “Agreement”) for the sale of 100% of the share capital of Dutch-incorporated subsidiary Datatrics BV (“Datatrics”) to Squeezely BV (“Squeezely” or the ”Purchaser”), a subsidiary of Spotler group, prime player in the marketing automation field in the Netherlands and UK, for a total consideration of 1.66 million Euro (the ”Transaction”). The Transaction is consistent with Growens Group’s (the “Group”) development strategy, and the Group management believes the Transaction represents an important opportunity to (i) optimize the business, by carving out a subsidiary with limited potential for synergies after the Email Service Provider sale, closed on 13 July, 2023; as well as (ii) focus investments on Beefree, the Business Unit with the highest market potential and most solid competitive position. The Transaction implies Growens waiving approximately 7 million Euro of intercompany loans versus Datatrics.