StrongPoint

M&A Activity • Apr 8, 2014

PSI Group ASA acquires 100 per cent of Vensafe AS through a private placement

PSI Group ASA acquires 100 per cent of Vensafe AS through a private placement

Vensafe AS held a general meeting today where the existing share capital was

written down to zero. Simultaneously they completed a private placement towards

PSI Group ASA of MNOK 1 which makes Vensafe AS a fully owned subsidiary of PSI

Group ASA. In addition to the capital contribution, PSI Group ASA aquires the

company's debt and liabilities totaling MNOK 15.

Vensafe AS is an ambitious Norwegian technology company, founded in 1998, which

develops and markets automated sales solutions small and valuable goods exposed

for theft in retail. The company's products streamline store operations, reduce

shrinkage and theft and help reduce working capital on a number of high value

products.

Vensafe AS is headquartered in Moss and has subsidiaries in Germany and Belgium.

At the end of 2013 Vensafe has delivered and installed more than 5300 product

vending machines in Scandinavia, Germany and Belgium. Annual service revenues

from these installations account for just less than MNOK 20. Total revenue in

2013, including new sales of systems, was MNOK 62.

The financial results in Vensafe AS have in recent years been very weak. Equity

at the end of 2013 was negative by MNOK 6.8. Former shareholders, directors and

management of the company have therefore decided to let Vensafe be developed by

PSI Group. It has been invested more than MNOK 100 in Vensafe's technology since

1998. The company is in an exciting phase with fully developed products and

technology solutions. The business will now be trimmed and focused on further

internationalization. At the same time, sales and service resources on the home

market in Norway and Sweden will strengthened in collaboration with PSI's

business area PSI Retail.

PSI Group knows Vensafe well from a long term collaboration in Sweden, where the

subsidiary PSI Antonson AB, which is part of the business area PSI Retail, has

marketed and carried out service and support on Vensafe since 2012.

This transaction complements PSI Group ASA's existing portfolio targeting

retailers and will lead to a further strengthening of PSI Group ASA's role as a

major player in value added solutions aimed at retail and specialty stores.

"PSI Group ASA has CashGuard and SQS Security in its technology portfolio.

CashGuard realized a growth of more than 40 per cent in 2013 to MNOK 127. Our

technology portfolio will significantly strengthen by this transaction.

CashGuard / Vensafe appeal to the same customer segments with their innovative

technology solutions that increases the profitability of the retailers ", says

CEO of PSI Group ASA, Jørgen Waaler.

"The business combination will lead to synergies in sales, marketing,

development, production and management. At the same time we will invest in

further development in Vensafe." concludes Waaler.

For further information, please contact:

Jørgen Waaler, CEO PSI Group ASA, Phone: +47 9059 0010

About PSI Group:

PSI Group's mission: Driving Retailers' profitability by providing innovative

integrated Technology Solutions enabling store owners to perform to their full

potential.

PSI Group, a public company listed at Oslo Stock Exchange, has it's headquarter

at Rælingen, close to Oslo, with a total staff of approximately 340 in

Scandinavia and Europe.

For further information: www.psigroup.no

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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