Arribatec Group ASA

Earnings Release • Nov 11, 2020

ARRIBATEC ACQUIRES MICROSKY AS

ARRIBATEC ACQUIRES MICROSKY AS

OSE NOTIFICATION

ARRIBATEC ACQUIRES MICROSKY AS

Oslo, Norway, 11 November 2020 Arribatec Solutions ASA (Arribatec, OSE: ARR) today announces the acquisition by Arribatec AS of Microsky AS (Microsky) as part of the strategy of creating a leading Solution as a Service (SaaS) company through organic growth and accretive acquisitions.

“The Microsky acquisition strengthens our cloud and Azure competence and capacity. Through a combination of Azure Public and Hybrid Cloud solutions, Microsky offers a futureproof and innovative IT platform for small to medium size companies and adds complementary services and solutions to our recent acquisition Innit. The latest acquisitions complete our team as we execute our Solution as a Service strategy to deliver on our ambitious international growth ambitions, says Per Ronny Stav, Chief Executive Officer of Arribatec.

Arribatec has entered into a share purchase agreement related to the acquisition of 100% of the shares in Microsky for a net fixed purchase price of NOK 1,5 million in cash, plus 3,500,000 shares in Arribatec Solutions ASA at a subscription price of NOK 1.50 per share ex dividend.

Microsky, headquartered in Bergen, Norway, was founded in 2011 and has 8 employees. The company expects revenues in 2020 in the range of NOK 19 million, annual recurring revenues (ARR) of NOK 11,5 million and with an EBITDA of NOK 1 million.

Microsky is a tier-1 Microsoft Partner and has extensive competence in Azure Cloud, Office 365 and GDPR. The Microsky Azure based cloud platform includes an own Azure Stack platform built and operating out of a data center in Bergen. Microsky is owned by Tom Christian Mikkelsen, Geir Helge Nygjerde and Stacc AS. Tom and Geir will continue with Arribatec and have agreed to an 18 months lock-up period for their shares. Henrik Lie-Nielsen; board member of Arribatec Solutions ASA holds 20.0% of Stacc AS.

Microsky is and has been an important supplier to Stacc's customers and projects, such as BRABANK, as well as Stacc internally for many years. Stacc is convinced that a consolidation into larger and more robust professional environments will be positive for both Microsky, Stacc and their customers. This partnership will be continued by Arribatec.

For additional information, please contact:

Per Ronny Stav, CEO, Arribatec Solutions ASA: +47 994 42 378

Martin Nes, Chairman of the Board, Arribatec Solutions ASA: +47 920 14 814

About Arribatec | www.arribatec.com

Arribatec is a software and consulting company headquartered in Oslo. With a customer centric engagement model, combined with a deep system, integration and domain competence, Arribatec builds long term strategic partnership with a broad customer base. Arribatec serves more than 300 large entities spread over 20 countries and various industries, both in the private and public sector. The company employs over 180 people with offices in 9 countries and is listed on the Oslo Stock Exchange under the ticker code ARR.