Arribatec Group ASA

M&A Activity • Jan 27, 2021

ARRIBATEC COMPLETES IB ACQUISITION

ARRIBATEC COMPLETES IB ACQUISITION

OSE NOTIFICATION

ARRIBATEC COMPLETES IB ACQUISITION

(Oslo, Norway, 27 January 2021) A subsidiary of Arribatec Solutions ASA (OSE: ARR, Arribatec) has completed the acquisition of IB Marine Group, a leading international provider of cloud-based Enterprise Asset Management (EAM) solutions within the maritime sectors.

Reference is made to the stock exchange notifications 18 November 2020 and 11 January 2021 regarding an option to acquire IB Marine Group. The acquisition has now been completed.

In connection with the acquisition of IB Marine Group, Arribatec has also entered into an agreement regarding a private placement of 2.2 million Arribatec shares at NOK 2.20 per share towards Giampiero Soncini, Chief Executive Officer of IB Marine Group. The investment is subject to a three-year lock-up.

ENDS

For additional information, please contact:

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

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 450 large entities spread over 25 countries and various industries, both in the private and public sector. The company employs over 300 people, taken announced acquisition into account, with offices in 13 countries and is listed on the Oslo Stock Exchange under the ticker code ARR.