Checkin.com Fully Acquires Estonian Tech Company GetID

Checkin.com, a leading SaaS software provider, announced that it has entered into an agreement to acquire all shares in the Estonian tech company GetID. The transaction is expected to complete during August 2021.

Founded in 2019, GetID has rapidly grown, with an annualized revenue of about 5 million SEK and enterprise value of about SEK 82 million. GetID has approximately 25 co-workers in the team and their office in Tallinn.

Checkin.com mentioned that the recent acquisition is the first step in its strategy to add technologies and strong teams by acquisitions, within areas that strengthen the group's already leading SaaS software for check-ins.

According to the announcement, the purchase price amounts to a total of EUR 8.1 million, where EUR 5.5 million is paid in Consideration Shares in Checkin.com group and EUR 2.6 million is paid in existing cash and cash equivalents.

After the acquisition is completed all key personnel and shareholders in GetID will own approximately 3.2% of the shares in Checkin.com Group AB, these are issued as part of the transaction.

"This acquisition is long-term a very important part of our puzzle, and we look into many other technology areas for suitable acquisition candidates. It is through the technical advantage Checkin.com Group will continue to deliver value to our customers and shareholders”, comments Kristoffer Cassel, CEO and co-founder of Checkin.com Group.