House of Control (House of Control Group AS) has signed an agreement with Cillco Technogy AS, who will take over on-p-premises customer contracts outside of the company's core business as well as approximately 30 FTEs from HOC's subsidiary DinERP AS. Annual recurring revenue (ARR) from the contracts is approximately NOK 14 million, and House of Control expects annual cost savings of approximately NOK 30 million. The agreement with Cillco Technology will take effect from 1 March 2022.

The transaction will imply that House of Control's results for 2021 will be changed with impairments reflecting intangible and other assets related to DinERP AS. The agreement covers solutions and services developed in DinERP before the company became a part of House of Control Group, and mainly comprise customer deliveries based on software installations in IT-environment on customer premises. Cillco Technology will retain the responsibility to service and further develop the above-mentioned SaaS solutions developed by DinERP that will continue to be marketed and sold by House of Control.

At the end of 2021, House of Control had ARR of NOK 211 million, including the contracts which will be transferred to Cillco Technology. This compares with NOK 146 million at the end of 2020 and NOK 102 million at the end of 2019. The company presents preliminary figures for 2021 on 17 February 2022.