Oslo, NORWAY 22nd September 2021: Crayon Group Holding ASA (OSE: "CRAYON") today
announced it has reached an investment agreement with Cloud Direct, a UK-based
cloud managed services provider.
Under the agreement, Crayon has made a GBP 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 CEO Melissa 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 the UK, 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 CEO Brett 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 the UK and has annual
revenues of GBP 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 Crayon 

Crayon 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 in Oslo, Norway, the
company has approximately 2,500 employees in 50 offices worldwide.

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© Oslo Bors ASA, source Oslo Stock Exchange