WPTG acquires 51% stake in Indian AI pioneer OneBrain and resolves on a directed share issue

White Pearl Technology Group AB (publ) ("WPTG") has today entered into an agreement regarding the acquisition of, and taking possession of, 51% of the shares (the "Shares") in OneBrain ("OneBrain"). The total transaction value is USD 300,000, to be paid in three tranches, with the first tranche of SEK 1,100,000 executed today following successful due diligence.

OneBrain is one of India's leading AI technology companies and has developed the proprietary Dynamic Action Model (DAM) technology, which enables intelligent automation of complex business processes. The company expects a revenue contribution of SEK 4M+ for 2024, with forecasted revenue of over SEK 7.5M in 2025. The company currently has twelve AI specialists and has developed proprietary technology.

The initial consideration of SEK 1,100,000 will be paid through the issuance of 169,231 shares at SEK 6.5 per share, representing a 9% premium to the 2-week VWAP and a 16% premium to the spot price. Two additional tranches of USD 100,000 each are scheduled for July 2025 and January 2026. WPTG is now taking an important strategic step to accelerate its AI capabilities, with OneBrain's team joining WPTG's global technology team.

OneBrain is an Indian AI technology company specialising in automated computing solutions. The company was founded in 2020 and has developed the proprietary Dynamic Action Model (DAM) technology. The integration with WPTG's AI Lab in Hyderabad commences immediately, with OneBrain's proprietary technology being deployed across WPTG service offerings. The company expects a revenue contribution of SEK 4M+ for 2024, with forecasted revenue of over SEK 7.5M in 2025.

 "The completion of this acquisition accelerates our AI capabilities significantly. OneBrain's DAM technology will transform our service delivery model, particularly in emerging markets where efficiency and scalability are crucial," says Marco Marangoni, CEO of WPTG.

"Joining WPTG provides us with the global platform needed to scale our technology. Initial integration planning has already identified several high-impact applications across WPTG's portfolio," says Mirza Areeb Baig, CEO of OneBrain, who continues leading the operation.

The transaction, in brief

● The total transaction value is USD 300,000, to be paid in three tranches.

● WPTG has acquired and taken possession of 51% of the Shares today, December 5, 2024.

● The initial consideration of SEK 1,100,000 will be paid through the issuance of 169,231 shares at SEK 6.5 per share.

● Based on the authorisation granted by the Extraordinary General Meeting on November 8, 2024, the Board of Directors has today resolved on a new share issue of 169,231 shares, with deviation from the shareholders' preferential rights, at a subscription price of SEK 6.5 per share.

● Following the registration of the new shares, WPTG's share capital will increase from SEK 594,109 to SEK 597,832.84.

● The share issue represents a dilution of approximately 0.6% for existing shareholders.

● Two additional tranches of USD 100,000 each are scheduled for July 2025 and January 2026.

● WPTG holds an option to acquire the remaining 49% stake within 3 years.

Directed Issue
The Board of Directors has based on the authorisation granted by the Extraordinary General Meeting on November 8, 2024, today resolved on a directed share issue of 169,231 shares in WPTG, with deviation from the shareholders' preferential rights, at a subscription price of SEK 6.5 per share. The reason for the deviation from the shareholders' preferential rights is that the acquisition is in accordance with the Company's strategy and that it is considered to be most beneficial for the Company and its shareholders. Following the registration of the issue, the total number of shares in the Company will increase accordingly. This gives a dilution for existing shareholders of approximately 0.6 per cent.

For more information:
Marco Marangoni, CEO White Pearl Technology Group AB (publ) Phone: +46 707 341-085 E-mail: marco.marangoni@whitepearltech.com

Investor Relations White Pearl Technology Group AB E-mail: ir@whitepearltech.com Phone: +46 707 340804

About OneBrain
Founded in 2020, OneBrain is an Indian AI technology company specialising in automated computing solutions. The company has developed the proprietary Dynamic Action Model (DAM) technology, which enables intelligent automation of complex business processes. For more information, see www.onebrain.cloud.

About WPTG
White Pearl Technology Group AB (WPTG) is a global technology company specialising in digital transformation solutions. With a presence in over 30 countries and a team of more than 650 experts, WPTG helps organisations navigate the complexities of the digital age. For more information, see www.whitepearltech.com.

White Pearl Technology Group AB (publ) is listed on Nasdaq First North Growth Market. The Company's Certified Adviser is Amudova AB, Box 5855, SE-102 40 Stockholm, Sweden, tel: +46 (0)8-546 017 58, info@amudova.se.

This information is information that White Pearl Technology Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above on December 5, 2024.