Mercell : acquires leading Danish SaaS company Comcare and further strengthens its post-award position

Oslo, 3 September 2020: Mercell Holding AS [OSE:MRCEL-ME] announces that it
today has acquired all of the outstanding shares in the Danish
Software-as-a-Service company Comcare AS. The acquisition will take immediate
effect and the purchase price reflects a multiple in the range of 3-4 times the
acquired company's ARR. 
Comcare holds a strong position in the Danish e-Procurement market and is the
leading provider to Danish municipalities with a client base of 65
municipalities as well as multiple other regional authorities and energy
companies. In total, Comcare has 96 public authorities as customers.
Comcare's service offering covers important parts of the post award workflow
solutions including a.o. contract management, e-procurement and e-catalogue
systems. 
The acquisition further strengthens the position Mercell began building with the
acquisitions of Truelink and Tricom in Denmark earlier this year.

- I am very pleased to welcome Comcare into the Mercell family. The acquisition
of Comcare will significantly strengthen our market position in the Danish
public eProcurement market. We are looking forward to join forces with all the
skilled resources in Comcare and to pursue the exciting growth opportunities
that lays within our Groups total product port-folio and market position, Terje
Wibe CEO of Mercell group states.

- Becoming a part of Mercell will effectively increase Comcare's growth
potential. Both Mercell and Comcare have been successful in a growing market
fueled by the ongoing digitization of the public sector. Combining forces will
enable us to take advantage of a wide array of strategic opportunities going
forward, CEO Søren Iversen in Comcare comments.

- Our customers will benefit from a provider with market leading products and
services and even stronger competencies. And last, but not least; our employees
will benefit from being an integrated part a stronger and larger organization
with clear European ambitions, COO Stig Larsen in Comcare supplements.

KMD, the strategic partner of ComCare, supports the transaction and sees
potential new opportunities with the larger product portfolio of the Mercell
Group. KMD is the leading supplier of mission-critical software, solutions and
IT services, primarily to Denmark's public sector, and KMD is looking forward to
continuing the collaboration with the combined company:

- KMD has had a strong partnership with Comcare since 2014 and ComCare has
proven itself as a valued and strategic partner. We are proud to have
contributed to the growth of Comcare and we are looking forward to work with the
ambitious Mercell group. We are happy to be able to offer our customer the best
products within the post-award market, says Executive Vice President Torben
Kristian Mols in KMD.

- Comcare's unique market position would not have been possible without the
strong partnership with KMD. We are glad to continue this relationship, and we
are looking forward to exploring new business opportunities with KMD in the
future, Terje Wibe continues.

Comcare is the fourth acquisition made by Mercell in 2020 and is a direct result
of the Mercell strategy of combining organic and inorganic growth to consolidate
the European eTender and eProcurement markets.

For more information, please contact:

CEO Terje Wibe in Mercell		
Cell: [phone]
Email: [e-mail]	

CEO Søren Iversen in Comcare	
Cell: [phone]
Email: [e-mail]

COO Stig Larsen in Comcare
Cell: [phone]
Email: [e-mail]


This is Mercell:

Mercell is the leading digital platform for eTendering and eProcurement
solutions in the Nordics, with approximately 1.300 buy-side and 16.000
supply-side companies as clients.
Mercell's unique marketplace simplifies the tender and procurement process and
makes it safe and easy for buyers to find relevant suppliers for their tenders
and daily purchasing needs. Mercell also ensures suppliers find relevant
business opportunities as well as tools for the suppliers to digitally receive
and handle purchases from public and private buyers.
Mercell delivers services to public and private buyers in 13 European countries
and our aim is to become the leading software-as-a-service (SaaS)-platform for
eTendering and eProcurement in Europe 


This is Comcare:

Comcare is the leading Danish SaaS company, specialized in delivering software
and services in the post-award market, including contract management and
e-procurement.
Comcare has a strong market position in Denmark where the client base includes
more than 60 municipalities, several regions and a comprehensive list of other
public and private companies.
Comcare is the market leader of post-award solutions within the municipalities
in Denmark, where Comcare has proven to be an attractive partner within the
international fintech industry.
Comcare's compound annual growth rate (CAGR) is 20 per cent over the last five
years and revenues in 2019 was DKK 21.1 million. Per July 2020 Comcare had an
ARR of approximately DKK 20 million.

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