Northern Data Group CEO Aroosh Thillainathan Initiates EUR 10 Million Share Acquisition

Northern Data AG announced that CEO Aroosh Thillainathan has placed an irrevocable standing order to acquire additional shares in the company. The transaction, valued at up to EUR 10 million, is set to occur between August 16, 2024, and October 15, 2024.

This move will potentially increase Thillainathan's stake in the company to over 8.0%. The purchase follows a prosperous first half of 2024, where the company reported a 49% year-on-year increase in revenue, reaching EUR 55 million. Northern Data aims for a 200% year-on-year revenue growth by the end of 2024.

The shares will be acquired through a pre-set purchase plan agreement and will not exceed 25% of the average daily XETRA trading volume over the preceding 20 trading days. The purchases will be executed through ART Beteiligungs Management GmbH, Thillainathan’s family office.

The Group forecasts full-year 2024 revenue between EUR 200 million and EUR 240 million, and revenue between EUR 520 million and EUR 570 million for 2025, demonstrating Thillainathan’s confidence in Northern Data's long-term strategy.