According to the agreement, Bittnet will buy 20% of the share capital of DataScript from MOORE Academy CZ Sro, for EUR275,000, price calculated at a multiple EV/EBITDA of 7.5x, the company said.
In addition, Bittnet will provide DataScript with EUR500,000 over the next three years, in the form of a loan either directly or through guarantees, based on one-off DataScript development projects.
DataScript will start distributing annual dividends amounting to a maximum of 50% of its profit, according to the investment contract.
In 2020, DataScript had a turnover of approximately EUR1 million and EBITDA of EUR180,000.
The new board of DataScript will consist of three members, of which one seat on the board will belong to the shareholder Bittnet.
DataScript is one of the most important IT training centers in Czech Republic, which operates both in the delivery segment to corporate clients and for individuals, covering courses in the DevOps, RedHat or AWS curriculum.
Bittnet has a stock market capitalization of RON163.5 million and is owned by founders Mihai Logofatu (13.4%) and Cristian Logofatu (12.15%).
The group had consolidated revenues of RON108.6 million in 2020, up 9% on the year, and an EBITDA of RON4.3 million, up 400%. The company ended 2020 with a net profit of RON52,579 from a loss of RON2.6 million in 2019.