Leaddesk announced a material acquisition as the company buys Norwegian Zisson, which will add some 28% to the annual net sales. The deal is well-aligned with Leaddesk’s strategy to consolidate the fragmented CcaaS market in Europe. We also find the deal EV/EBITDA based YTD 2024 run-rate being attractive for shareholders. We see pro forma NIBD/EBITDA rising to c. 1.4x. The share is also used for funding, causing 6% dilution. At first glance a good move.

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