Oslo, NORWAY 22nd September 2021 :Crayon Group Holding ASA (OSE: "CRAYON") today announced it has reached an investment agreement with Cloud Direct, aUK -based cloud managed services provider. Under the agreement, Crayon has made aGBP 3 million investment for a minority ownership in Cloud Direct and it establishes a commercial partnership. Crayon also will have the option later to further invest in a majority ownership of that company. "We are excited about this agreement as it combines the best of both Crayon and Cloud Direct," said Crayon CEOMelissa Mulholland . "We both have the global elite status of being a Microsoft Azure Expert MSP and Crayon's customer-centric approach to cost optimization complements Cloud Direct's managed services capabilities." The companies have agreed to not disclose any further details on the transaction at this stage. This collaboration strengthens Crayon's managed services, creating an end-to-end public cloud infrastructure and economics offering. Crayon's strategic investment increases its ability to leverage deep expertise in Microsoft technologies, meaning more customers will be able to take advantage of the benefits of the cloud. Initially, this agreement will largely focus on operations in theUK , where most of Cloud Direct's customers are located. However, it can easily scale to customers worldwide as it has delivered more than 4,000 cloud migrations. "Cloud Direct builds and operates Microsoft public cloud solutions that work - ensuring cost optimization, technical performance, and security compliance," said Cloud Direct CEOBrett Raynes . "We focus our professional and managed services on helping ambitious companies accelerate transformation and growth. Working with Crayon, we will drive more value to more customers." Cloud Direct is one of the leading Microsoft partners in theUK and has annual revenues ofGBP 20 million , which is 82% recurring revenue. It was founded in 2003 and has 165 employees. 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 CrayonCrayon Group Holding ASA is a leading IT advisory firm in software and digital transformation services. With unique IP tools and skilled employees, Crayon help optimize its clients' ROI from complex software technology investments. Crayon have long experience within volume software licensing optimization, digital engineering, predictive analytics and assists the clients through all phases of the process of a digital transformation. Headquartered inOslo, Norway , the company has approximately 2,500 employees in 50 offices worldwide.
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