Skip to content

Substrate Artificial - Acquisition of BINIT SRL and DELTANOVA SA

Announcement provided by

Substrate Artificial Inteligence S.A. Class B · SAI.B

03/11/2023 14:21

Substrate Artificial - Acquisition of BINIT SRL and DELTANOVA SA
RNS Number : 3840S
Substrate Artificial Inteligence,SA
03 November 2023

3 November 2023




("Substrate AI" or the "Company")


Acquisition of BINIT SRL and DELTANOVA SA


Substrate AI (AQUIS:SAI.B) is pleased to announce that on 31 October 2023, it has agreed on the terms for the acquisition of 70% of the companies BINIT SRL and DELTANOVA SA, parent companies of the BINIT Group.


The BINIT Group is a software development consultancy in Spain, the UK and Latin America. It has more than 100 employees in these markets and a consolidated portfolio of clients, among which are companies such as John Deere, Holcim and Charles Taylor.


The company will complement the capabilities of the Substrate group and will function as a software developer for the companies of the Substrate AI group and other customers, helping to turn Substrate's proprietary AI technology into products and solutions.


The acquisition price has been set at €5,400,000 for the acquisition of BINIT SRL and €600.000 for DELTANOVA SA. In both cases consideration will be paid in shares of Substrate AI in a combination of A and B shares through a capital increase under the formula of the compensation of credits provided for in the Spanish Companies Act, to be approved by the shareholders' meeting of the Company expected to be convened in January 2024 and which will be announced in due course.

The Directors of the Company accept responsibility for the contents of the announcement.

For further information, please contact:

Substrate AI

Lorenzo Serratosa



First Sentinel Corporate Finance

Brian Stockbridge


+44 (0) 7858 888 007





This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

View more ...

SAI.B announcementsAll announcements


  • About
  • News
  • Investor Relations
  • Contact
  • Careers

© Aquis Exchange 2024. All rights reserved.

Terms & ConditionsPrivacy PolicyModern Slavery & Human Trafficking Policy
System statusnormal