Pexip Holding

M&A Activity • Nov 8, 2021

Pexip acquires Skedify to accelerate the delivery of video enabled business-to-consumer applications

Pexip acquires Skedify to accelerate the delivery of video enabled business-to-consumer applications

Oslo, Norway, 8 November, 2021 - Pexip Holding ASA ("Pexip", Oslo Børs Ticker:

PEXIP), a leading enterprise video communication platform provider, today

announced the acquisition of Skedify, a Belgium based Software-as-a-Service

customer engagement solution.

The utilization of video as a core communication tool has accelerated over the

last few years, not only for internal meetings in organizations, but also

increasingly in customer-facing applications across industries. Many

organizations in sectors such as retail and financial services are opening their

eyes to the huge potential video communication has to improve customer service

and interaction.

The addition of the Skedify customer engagement platform to the Pexip portfolio

enables Pexip to provide an end-to-end solution to meet the needs of customers

in key verticals, such as Financial Services, High-Involvement Retail and HR &

Recruitment. With Skedify's capabilities for customer meeting scheduling and

lead qualification and video engagement, customer-facing teams can now be

equipped with a fully integrated solution by Pexip to enhance their lead

generation, productivity and customer experience. This type of video enablement

solution is a key strategic focus for Pexip and is a rapidly growing market.

Skedify's estimated revenue for 2021 is EUR 1.3 million of which a substantial

share is non-recurring and EUR -0.7 million is EBITDA on a stand-alone basis.

The company has grown YTD subscription revenues with 90% compared to the same

period in 2020, and is expected to contribute in excess of USD 0.9 million to

Pexip's ARR at the end of Q4 2021.

Pexip will acquire 100% of the shares in Skedify BV, for an enterprise value of

EUR 8.00 million on a cash and debt-free basis and an equity value of EUR 3.95

million, settled in:

· 275,917 shares valued at NOK 85

· EUR 1.58 million in cash

The Skedify founders (CEO and CTO) owning 62.2% prior to the transaction have

entered into a three year lock-up agreement for their shares, and will continue

as key leaders for this business area in Pexip. Skedify will be fully

incorporated into Pexip upon the closing of the transaction, which is expected

to be completed during November 2021. More details will be provided in Pexip's

Quarterly Earnings Call to be held on 11 November.

"Pexip, with its secure and customizable platform, is leading the way in video

enablement and central to this is providing end-to-end solutions that bring

organizations and their clients closer together," said Øystein Hem, Interim CEO

and CFO at Pexip. "In its capacity as a Pexip solution partner, Skedify has

already demonstrated successful growth by offering the Skedify platform and

Pexip video as a single solution. With the acquisition of Skedify, we are taking

this to the next level to offer our joint customers a platform that easily

integrates video to offer a leading customer-facing solution. This will make it

easier and faster for our customers to deploy a video-enabled digital customer

journey. We are excited to welcome the Skedify team onboard as part of Pexip."

Arne Bassez, CEO of Skedify, commented that, "As a sales engagement solution, we

noticed video becoming increasingly important as a strategic customer facing

tool and we have been partnering with Pexip for a while to offer a branded video

offering. We chose Pexip for their enterprise security, customizability and

market-leading interoperability. This has now resulted in Pexip acquiring

Skedify, providing us with tremendous global scaling opportunities for the

Skedify solution. With a great team cultural fit, the acquisition made perfect

sense and we're very excited to be part of the global Pexip team."

For questions, please contact:

Øystein Dahl Hem, Interim CEO and CFO, oystein@pexip.com, +47 992 34 596

Investor Relations: IR@pexip.com, +47 948 05 851

About Pexip

Pexip is a video communication platform that empowers and connects people across

borders, business and technologies. Our scalable platform enables high-quality

video meetings, with enterprise-grade security, and is easily adapted to fit

customers' IT requirements and existing infrastructure. This makes Pexip the

leading provider for  large enterprises and public sector organizations. The

solution is sold through 300 channel partners in 75 countries and used in more

than 190 countries. Pexip was listed on the Oslo Stock Exchange in May 2020.

About Skedify

Skedify is a customer engagement solution for enterprises in Financial services,

HR & Recruitment, Public services and High-Involvement Retail with extensive

customer facing interactions that want to offer an end-to-end scheduling and

meeting experience, whether face-to-face physically or virtually through video,

to provide the best possible customer experience and commercial successes. With

Skedify's integration capabilities from CMS to CRM and ability to handle complex

organizational needs, it's a perfect fit for any enterprise aiming to streamline

their high-touch customer interactions.