The capital infusion amounts to EUR1.3 million and its purpose is a partnership through which both companies will expand into the global market.
“Following the deal, NSSG will further enter the North American markets. In turn, Canadian company Avante will expand its global network,” NSSG representatives told ZF.
The expansion of the two companies will result in better digitization of the processes of the two teams, better technical solutions, an increase in the business continuity structure, they added.
A press release on Avante Corp Inc.’s website announced that it had approved the acquisition of a 55% stake in North Star Support Group for EUR1.3 million. The purchase price will be paid through a combination of cash in the amount of EUR1.2 million and the issuance of 154,301 shares in the company.
(English version by Loredana Fratila-Cristescu)