Stillfront recently announced the acquisition of Nanobit. The implied EV/Adjusted EBITDA multiple of 6.4x (a transaction of a maximum USD 148 million) is clearly below our perceived value of Nanobit. Nanobit is an experienced team with a leading position in a lucrative niche. With a target audience that shows strong growth and loyalty, we expect a high profitability injection in Stillfront Group the years to come. We have increased our valuation.