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

The announcement, made in accordance with the Capital Markets Rules issued by the Malta Financial Services Authority, signals that discussions are currently underway between GO and Klikk’s shareholders, with the aim of securing 100 per cent of the shares in the finance company.

Klikk Finance plc owns Klikk Limited, which operates two computer retail outlets servicing both retail and corporate clients. The outlets are on Birkirkara’s Dun Karm Bypass and Tal-Barrani Road in Żejtun.

While details remain under wraps, this potential acquisition could mark a significant strategic move for GO, which has been expanding its portfolio beyond telecommunications in recent years.

GO has stated that further updates will be announced as necessary, leaving the market to speculate on how this acquisition could enhance GO's existing offerings and potentially open up new opportunities for growth and diversification.

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.

Klikk acknowledged the “persistent challenges looming over the industry,” including volatile customer behaviour, inflationary pressures, intensifying competition and tightening margins.
While saying that it approaches these challenges with “cautious optimism”, it admitted that many of its current and potential competitors “may have longer operating histories, bigger name recognition, larger customer bases and greater financial and other resources.”

Industry observers will be watching closely as further details emerge, keen to understand the implications of this move on both companies, their customers, and the wider Maltese business landscape.