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    TECH   NO0003095309

TECHSTEP ASA

(TECH)
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Techstep : signs Managed Mobility Services-agreement with the Olav Thon Group

10/26/2021 | 01:01am EST
Techstep has signed a Managed Mobility Services-agreement with its existing
customer, real estate and hotel management company, the Olav Thon Group.
Techstep will deliver its Managed Mobility Services-product 'Flow', including
Techstep's own cloud-software solution for device and lifecycle management,
device service, and support for at least 1,500 new managed mobile devices.

Thon Hotels have already begun its mobile digitalization journey using apps in
maintenance and cleaning in some hotels, and the deployment of Techstep's Flow
-solution will help accelerate this process further.

All companies and companies where Olav Thon Gruppen AS is a full or part owner,
as well as franchisees will be able to take part in the new agreement with
Techstep.

"Our services simplify work processes, reduce IT complexity and improve
security, as well as making device handling more sustainable. We are excited
that Techstep can help the Olav Thon Group improve productivity and its
environmental footprint" says Techstep's Chief Revenue Officer, Gunnar Aasen.

Techstep estimates a total contract value of NOK 11 million with 1,500 new
managed devices over a two-year period, commencing late 2021. The contract
reflects Techstep's strategy of converting existing customers to its
complete Managed Mobility Services-offering.

About The Olav Thon Group.

The Olav Thon Group is owned by the Olav Thon Foundation.  The group is mainly
engaged in real estate and hotel business.In 2019, the Olav Thon Group had
operating revenues of approx.  NOK 10 billion and employed approx.  3,330
people.  The group consists of the two divisions Thon Eiendom and Thon Hotels.

For more information:

Erik Haugen

Chief Transformation Officer
erik.haugen@techstep.no

About Techstep ASA

Techstep is purpose-built to become a leading European Managed Mobility Services
provider. Techstep provides a complete Managed Mobility Services-offering that
presents enterprises and their employees with access to efficient, secure and
value-creating mobile work solutions - wherever and whenever they choose to
work. Customer benefits include reduced IT complexity and costs, improved
employee capabilities and engagement, as well as increased productivity and
sustainability. Techstep has more than 350 employees based in Norway, Sweden,
Denmark and Poland, serving more than 2000 customers across different industries
and sectors. The company is listed on the Oslo Stock Exchange under the ticker
TECH. To learn more, please visit www.techstepasa.no.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

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Financials
Sales 2020 1 143 M 127 M 127 M
Net income 2020 -24,7 M -2,74 M -2,74 M
Net Debt 2020 207 M 23,0 M 23,0 M
P/E ratio 2020 -38,0x
Yield 2020 -
Capitalization 784 M 86,0 M 86,8 M
EV / Sales 2019 0,52x
EV / Sales 2020 1,01x
Nbr of Employees 354
Free-Float 54,0%
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Borge Astrup Chief Executive Officer
Jens Rugseth Chairman
Bartosz Leoszewski Chief Technology Officer
Fredrik Logenius Chief Operations Officer
Cathrine Birkenes Head-Sustainability & Compliance
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