Company announcement No. 164

ECIT AS hereby announce that Kovert AS has become a part of ECIT. 

- The acquisition strengthens ECIT within IT Security services. Kovert has deep
specialist knowledge within penetration testing, security testing and cyber
attack simulation in order to help companies to prevent cyber attacksand to
recover if a security problem has arised. We are pleased to welcome customers
and employees of Kovert to ECIT, says Peter Lauring, CEO in ECIT.

ECIT is acquiring 50.1 % of the shares in Kovert AS, with an option to acquire
all remaining shares in the company. The acquisition has been settled partly
with cash and partly with treasury shares. ECIT AS stock of treasury shares is
736,594 after the transaction. 


About Kovert AS
Kovert AS, located in Vikersund, Norway delivers services within IT security to
customers in the private as well as the public sector in Norway. Kovert AS has 6
employees and a revenue of 5.0 MNOK for the fiscal year ending 31.12.2022. Read
more on https://kovert.no.		

About ECIT
Founded in 2013, ECIT supports a large customer base with accounting, payroll,
and IT services. ECIT has a proven model for acquisitions, combining proximity
to customers, local entrepreneurship and the strength of a larger international
group. ECIT has a full-year proforma 2022 revenue of 3.1 billion NOK per Q1 2023
and more than 2,400 employees across ten countries. M&A has been key to drive
the Company's growth as ECIT has completed close to 140 acquisitions since 2013.
Read more at www.ecit.com. 



For further information please contact 
 
Mads Skovgaard, Group CFO
mskovgaard@ecit.com 
+45 2780 4942

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