According to the company’s announcement, the payment will be made in two equal installments, with 50% paid upon signing in 2026 and the remaining 50% in the first half of 2027, upon finalization of the financial statements. In addition, a supplementary earn-out payment is provided based on the achievement of profitability targets, as well as a call option to acquire the remaining 49% after 2028.
Valuation and Financial Metrics
The valuation of MTIS was based on a five-year business plan and conducted using a combination of discounted cash flow (DCF) and multiples-based methodologies. Key considerations included historical and projected financial data, net equity, cash position, and changes in working capital.
For 2024, MTIS reported revenues of €2.0 million and net profits of €1.03 million, while in the first half of 2025, sales reached €1.04 million with EBITDA of €320,000. The company holds no stakes in other businesses. The transaction will be fully financed through QnR Group’s available cash reserves.
Strategic Focus on Dual-Use and Defence-Tech
Founded in 2020, MTIS specializes in developing digital solutions for commercial and defense shipping, with expertise in areas such as maritime surveillance, operational awareness, civil protection, and critical infrastructure. A key technological offering is the i-Platform, a unified digital platform integrating IoT, artificial intelligence, and Big Data technologies, enabling real-time remote monitoring and predictive analytics applications.
According to management, the investment is expected to strengthen the Group’s position in marine-related, high-reliability solutions, creating opportunities for technological and commercial synergies across both the private and public sectors. QnR CEO Panagiotis Paschalakis stated that the MTIS stake represents a strategic investment with a strong dual-use orientation and a clear defence-tech footprint, highlighting the need for highly resilient and operationally ready solutions in the maritime sector.
No Changes in Shareholding or Management
The company clarified that there have been no changes in QnR’s shareholding structure or management as a result of the transaction. The Group will continue to update investors on any material developments in accordance with the applicable regulatory framework.