BITTNET SYSTEMS S.A. (hereinafter referred to as “the Company”) informs investors about signing of an M&A agreement with the shareholder of DataScript sro, a company operating in the IT training industry in the Czech Republic and Slovakia.

According to the agreement, Bittnet will buy 20% of the share capital of DataScript from MOORE Academy CZ Sro, for EUR 275,000, price calculated at a multiple EV/EBITDA of 7.5x. In addition, Bittnet will provide DataScript, in form of a loan either directly or through guarantees, EUR 500,000 over the next 3 years, based on one-off DataScript development projects.

DataScript will start distributing annual dividends in a maximum of 50% of the profit, according to the investment contract. In 2020, DataScript achieved a turnover of approximately EUR 1 million and EBITDA of EUR 180,000.
According to the investment agreement, the new board of DataScript will consist of 3 members, 1 seat on the board belonging to the shareholder Bittnet. DataScript is one of the most important IT training centers in Czech Republic, which operates both in the delivery segment to corporate clients and for individuals, covering courses in the DevOps, RedHat or AWS curriculum.

The complete list of DataScript courses can be found on the company’s website, at the following link: . Among the certifications of the DataScript training center in the Czech Republic are some complementary Bittnet training, of which:

  • Red Hat Alliance Training Partner
  • Symantec Authorized Education Delivery Partner
  • Veritas Authorized Training Partner