May 23, 2018 / 5:50 AM / 5 months ago

BRIEF-Gigas Hosting Buys Cloud Hosting Company Ability in Colombia

May 23 (Reuters) - Gigas Hosting SA:

* SAID ON TUESDAY IT BOUGHT A CLOUD HOSTING COMPANY ABILITY IN COLOMBIA IN A CASH, SHARES AND DEBT DEAL

* GIGAS PAID IN CASH 77 PERCENT OF DEAL VALUE AMOUNTING TO 1.36 MILLION EUROS, 23 PERCENT WILL BE PAID WITHIN 12 MONTHS AND 0.3 MILLION EUROS WILL BE PAID UP IN NEW SHARES OF GIGAS

* NEW SHARES OF GIGAS WILL BE ISSUED ON THE NEXT GENERAL MEETING AT 6.34 EUROS PER SHARE

* TO PAY UP TO $0.75 MILLION IN MILESTONE PAYMENTS IF ABILITY REACHES $10.3 MILLION GROSS SALES BY 2020

* FOR FY 2018 GIGAS SEES ITS GROSS SALES REACHING 10.2 MILLION EUROS WITH ABILITY CONTRIBUTING 8.8 PERCENT

Source text: bit.ly/2J4APLv

Further company coverage: (Gdynia Newsroom)

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