Armira closing in on purchase of IK Multimedia

The parties are committed to finalising the deal, with signing expected in the coming weeks, the sources said.

Armira was in a head-to-head battle with Bregal in the late stages of the GCA Altium-led auction, as reported by Mergermarket last month.

The deal is expected to value IK Multimedia at approximately EUR 150m, both sources said. The company is expected to generate up to EUR 15m in EBITDA in 2021.

The two co-founders, Enrico Iori and Davide Barbi, decided to look for an external investor to finance the company's growth, launching an auction at the beginning of September, as reported.

Founded in 1996, IK Multimedia designs and manufactures apps, software, hardware and accessory products for music creation and playback on computers and mobile devices.

IK Multimedia and Armira did not return requests for comment. GCA Altium declined to comment.

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