Pexip Holding

M&A Activity • Jul 6, 2020

Pexip to acquire Videonor's base of enterprise customers

Pexip to acquire Videonor's base of enterprise customers

Video communications company, Pexip, and video service provider, Videonor, have

agreed that Pexip will take over the ownership and management of Videonor's

portfolio of enterprise customers. The agreement will ensure that the customers

in question have access to a broader range of video conferencing services suited

to enterprise needs. As the majority of these customers are in Norway, the

agreement will provide additional revenue growth for Pexip, as well as an even

greater market share in Norway.

The agreement is expected to give Pexip an increase in Annual Recurring Revenue

(ARR) of between 2 and 3 million USD after completion of the migration. This

comes in addition to the ARR for Q2 reported on 2nd July  2020.

"Norway is an important market for Pexip because of the extensive and

sophisticated use of video conferencing. We are excited about the opportunity

this agreement gives us to broaden our customer base and gain even more Pexip

ambassadors in Norway," says Odd Sverre Østlie, CEO of Pexip.

"We have had a partnership with Pexip over several years and we believe that

this agreement will benefit both companies, and our customers. With Pexip's

unique technology platform, our enterprise customers will now have access to a

more complete solution that will closer meet their business needs," said Øyvind

Reed, CEO of Videonor.

Telenor is both an owner of Videonor and a channel partner of both Pexip and

Videonor.

"We look forward to developing an even closer relationship with Pexip in the

years to come, allowing us to deliver leading-edge video solutions to our

customers," said Ove Fredheim, SVP Head of Enterprise Division of Telenor Norge

AS

The agreement will come into effect from 6th July 2020 and the migration of

customers is expected to take 6 - 12 months. Videonor's compensation will be

based on the amount of income and customer loyalty transferred to Pexip over the

next two years. No further details of the agreement will be provided due to

commercial sensitivity.

For more information, contact Odd Sverre Østlie, CEO of Pexip, mobile: +47 415

21 580.

Pexip simplifies complex video conferencing to empower teams to meet, regardless

of location or technology. Our scalable, cloud-native platform enables high

-quality video meetings, interoperability with Microsoft and Google solutions,

and video system device registration. Customers can deploy Pexip on their own

privately hosted servers, in their own cloud subscription of choice (Azure,

Google Cloud or AWS), as a hybrid, or as a service. With a diverse set of APIs,

Pexip can be customized to fit customers' unique needs. The solution is sold

through 300 channel partners in 75 countries and used in more than 190

countries.