Oslo ,3 November 2021 at08:00 CEST : Crayon, a leader in IT services and innovation, today announced it has now completed its acquisition of cloud and licensing specialistRhipe Limited ("rhipe"). The acquisition of theAustralia -based company is part of Crayon's global expansion strategy and happened via a Scheme of Arrangement.The Supreme Court of New South Wales approved the acquisition and trading of rhipe shares have been suspended. "This strategic acquisition is very synergistic as it combines both of our business models empowering us to help customers and partners solve their business needs with more solutions and services," Crayon CEOMelissa Mulholland . "I am thrilled to welcome rhipe to the Crayon family." Crayon provided the following update in relation to the Scheme: - The Scheme Consideration of AUD 2.37 (after deduction from the offered AUD 2.50 of agreed AUD 0.13 per share Special Dividend, as agreed withRhipe ) in cash for eachRhipe share has today been paid out to eachRhipe shareholder who held shares as at7:00pm (Sydney time) on Wednesday,27 October 2021 , representing a total consideration paid by Crayon forRhipe of AUD 386,988,068.85. - Crayon's indirect wholly owned subsidiaryCrayon Software Experts Australia Pty Limited now owns all of the shares on issue inRhipe . - As of today,Melissa Mulholland ,Jon Birger Syvertsen andMark McLellan have been appointed as the new board of directors ofRhipe . -Rhipe has applied to the ASX to have quotation of its shares terminated and forRhipe to be removed from the official list of the ASX with effect from close of trading on Thursday4 November 2021 .Rhipe is a channel-focused, leading wholesale provider of subscription-based cloud licenses, infrastructure, and services. It was established in 2003 and serves more than 3,000 IT resellers. The purchase includes all of rhipe's 600 employees and its activities acrossAsia Pacific , as well as the recently acquired Azure services business Parallo, which joined rhipe inSeptember 2020 and emt Distribution, the cyber security software company acquired inApril 2021 . Crayon has been steadily growing inAustralia . It opened its first offices inAugust 2019 , and last year purchased Oracle specialist Navicle andWinc's software licensing operations. For further information, please contact: Jon Birger Syvertsen Chief Financial Officer,Crayon Group Holding ASA Tel.: +47 97 19 92 51 Email: Jon.Birger.Syvertsen@crayon.com About Crayon: Crayon is a customer-centric innovation and IT services company. We provide guidance on the best solutions for our clients' business needs and budget with software, cloud, AI and big data. Headquartered inOslo, Norway , Crayon has over 2,500 employees across more than 35 countries worldwide. For more information, visit our website at http://www.crayon.com/
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