AKVA group to sell its Icelandic software subsidiary to Advania for €8.2m

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After a long process, the AKVA group has entered into agreement to sell Wise lausnir. 

This Thursday, the Norwegian aquaculture equipment supplier, AKVA group, signed an agreement to sell its wholly owned subsidiary, Wise lausnir, to Advania Holding. The sale price is EUR 8,2 million.

The transaction will be settled in cash as well as a seller credit, AKVA Group announced in a press release on Thursday.

The transaction is conditional on clearance from the Icelandic Competition Authority. The clearance is expected to be received during Q4 2018 or Q1 2019, and the transaction is expected to be completed immediately thereafter.

Wise’s business activities have for some time been considered to be outside the AKVA Group core area which is the reason the IT company was put up for sale. Wise lausnir has 80 employees.