Høvik, 29 October 2021: House of Control Group AS has entered into an agreement
to acquire Keyforce AS in Norway. The acquisition significantly strengthens
House of Control's integration capabilities and future Business Intelligence
offerings. 

House of Control's Software as a Service (SaaS) solutions for CFOs are built on
communication between different platforms and systems. Interaction and
integration with ERP, CRM, HRM and other incumbent business process systems is
key to maximize user value. Over 20 years, Keyforce has built an
industry-leading expertise in connecting business process software and
presenting data in a way that is easily available to all parts of a business -
not only the finance department. 

"The digitization of the company's finance department is accelerating, and more
data is produced every day. To help the CFO harvest the fruits of these changes,
dashboards are needed to connect and present key data in an understandable and
actionable way. The Keyforce team will significantly amplify House of Control's
ability to stay the CFO's best friend," says CEO Lasse Sten in House of Control.


"More and more data will be connected. For example, our contract lifecycle
management software can be integrated with our procurement solution. Our
budgeting and forecasting software also connect to ERP and other data sources.
The same goes for the CFO Dashboards. With Keyforce a part of HoC, we will
connect even more data and workflows in new and innovative ways and further
increase our ability to provide actionable insight."

Keyforce has annual recurring revenue (ARR) of NOK 14.5 million from more than
850 customers and approximately 19 000 end users across all types of industries
in the Nordics. The transaction values Keyforce at 2.93 times ARR on a debt-free
basis, which will be settled in cash upon closing, in addition to an earn-out
element capped at NOK 10 million depending on future ARR growth.

Keyforce CEO Terje Nøstdahl is looking forward to joining the House of Control
team: "House of Control has an impressive track record in developing and selling
SaaS solutions to the CFO, and we are grateful to be offered to come onboard
this growth journey. We believe that our team can have a significant impact in
strengthening the integration of data within the HoC ecosystem." 

The acquisition is in line with House of Control's growth strategy to combine
strong organic growth and attractive acquisitions. It follows the acquisitions
of DinERP and Effectplan last year and Business Analyze and Egreement this year.
Upon completion of the Keyforce acquisition, the company will have approximately
2,850 customers and 295,000 end-users in 65 countries.

For further information please contact:
CFO Carl Fabian Flaaten
Cell: +47 90 04 31 84
Email: carlfabian@houseofcontrol.no

About House of Control:
House of Control develops SaaS (Software as a Service) solutions. These are
digital tools that the CFO can easily apply to improve the performance of the
finance department and - ultimately - the whole company. The CFO toolkit
contributes to at least four important tasks: Cut costs, save time, reduce risk,
and improve compliance - all key ingredients of a better-working finance
department. Private and public enterprises use the software to manage contracts
and assets, comply with IFRS 16 requirements, communicate with suppliers, and
organize procurement. House of Control's strong revenue growth is supported by a
unique salesforce, and approximately 95 percent of sales are annual recurring
revenues.

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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