On Friday (today), GO plc announced that it has entered into a share purchase agreement for the acquisition of 100 per cent of the shares in Klikk Finance plc.

GO, one of Malta’s leading telecommunications companies, had revealed its intention to acquire Klikk Finance in September, signifying a move that could reshape the local tech landscape.

Furthermore, this acquisition represents a significant strategic move for GO, which has been expanding its portfolio beyond telecommunications in recent years.

Nonetheless, GO noted that the conclusion of the transaction is dependent on a number of conditions precedent being satisfied and therefore “may or may not conclude.”

The acquisition of Klikk Finance plc would see GO also owning Klikk Limited, the operator of two computer retail outlets servicing both corporate clients and retail.

The outlets are on Birkirkara’s Dun Karm Bypass and Tal-Barrani Road in Żejtun.

In Klikk Finance’s latest annual financial report, a “notable surge in performance” was reported, with an 11 per cent increase in revenue from €7 million in 2022 to €7.9 million in 2023.

The upswing was underscored by an enhanced gross profit margin of 16.4 per cent. After subtracting administrative expenses, it registered a profit before tax of €7,000.

This improved performance follows a substantial loss of €158,000 reported for the previous year.

Further announcements and details will be announced “as and when necessary.”