Oslo, 19 April 2021. Sikri Holding AS ("Sikri"), a key player in the market for
managing and archiving documents specializing towards the public sector and
providing the software platforms Elements, ephorte, ESA and eByggesak, has
entered into a binding agreement with the Norwegian Ministry of Trade, Industry
and Fisheries (NFD) regarding the acquisition of Ambita AS ("Ambita"). 

Sikri is one of Norway's leading suppliers of technology for public
administration with a strong position within the state, municipalities and
health sector. During the last year, Sikri has expanded its' portfolio through
the acquisition of companies like PixEdit, Augment, Whatif, Sureway, and now
Ambita, which is the largest investment so far. 

Ambita is a technology company delivering solutions digitizing the real estate
market. The company's services are used by several thousands of users in real
estate transactions and construction projects every day. Ambita's portfolio of
services includes Infoland, Ambita's digital registration service, Virdi,
Boligmappa and a solution for digital building applications amongst others. The
company is also the majority shareholder in Prognosesenteret. 

Ambita consolidated revenue for 2020 was approximately NOK 500 million, with an
EBITDA margin of 12%. Sikri's management has so far identified NOK 20-40 million
in yearly synergies between the companies. However, Sikri expects there to be
further synergy potential from common solutions and services, cross-selling
towards combined customer bases, and growth in the Nordics in the upcoming
years.

This acquisition marks a change of pace in utilizing public data and developing
new services for citizens, public administration, and private businesses, says
the CEO of Sikri, Nicolay Moulin.

CEO of Ambita, Stig W. Seljeseth, is very pleased with the new owner of Ambita.
- With Sikri's acquisition of Ambita we will create a strong center of
excellence for digitalization of the Nordic society. Sikri's strong position in
public sector, combined with Ambita's leading role within data and analysis
services for the real estate market will in combination strengthen an
established technology powerhouse in the Nordics. 

Majority owner and chairman of the board of Sikri, Jens Rugseth, has high
ambitions. - Our ambition is to build the leading ecosystem for public
administration, proptech, data and analytics within the Nordics. Based on
existing market positions, we will develop new services creating sustainable
values. The Nordic countries all have a strong public sector. To meet the
economic and demographic challenges ahead, cooperation between private and
public sectors and citizens is key, says Rugseth.

Together these companies will represent a strong Nordic innovation center,
uniquely positioned to offer the public sector, private businesses, and citizens
better services. 

The agreed enterprise value is NOK 950 million per 31 December 2020 (purchase
price NOK 962.8 million). NOK 50 million of the purchase price will be settled
by a 360 days seller's credit. The remaining part of the purchase price is fully
financed, and funded by existing cash, new debt under current bank facilities
and NOK 350 million in new equity guaranteed by the following existing
shareholders of the Company: Karbon Invest AS, Carucel N59 AS and M25 Industrier
AS.

The transaction is expected to close early May 2021.

ABG Sundal Collier ASA is acting as financial advisor and AGP Advokater is
acting as legal advisor to Sikri in connection with the transaction.

For further information, please contact:
Nicolay Moulin, CEO - Sikri
E-mail: Nicolay.moulin@sikri.no. Telephone: +47 905 91 983

About Sikri
Sikri is a software company that specializes in delivering good digital
solutions to the public sector in the Nordic region. Sikri has historically
delivered the best digital solution for case management and archive systems to
the public sector and are now also delivering broad software solutions. Sikri
offers complete solutions for cloud services, conversion and delivery of
databases and documents, as well as the construction case area (eByggesak), map
and cadastre. Sikri Holding AS is a Norwegian private limited company having its
shares admitted to trading on Euronext Growth Oslo, an MTF operated by Oslo
Børs, with ticker "SIKRI".

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation, and is subject to the disclosure requirements pursuant
to Section 5-12 of the Norwegian Securities Trading Act.
The stock exchange announcement was published by Camilla Aardal, CFO, Sikri
Holding AS.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange