ECIT AS

M&A Activity • Oct 19, 2022

Argus Kreditt becomes part of ECIT

Argus Kreditt becomes part of ECIT

Company announcement No. 105.

ECIT AS (ECIT) hereby announce that the Norwegian debt collection company Argus Kreditt AS has become a part of ECIT.

Argus Kreditt delivers services from Hønefoss, and supplementing ECIT`s debt collection and invoicing services in Lillehammer, Oslo and Kolbotn. Argus Kreditt AS had a revenue in 2021 at 7 MNOK with 5 employees.

Argus Kreditt offer services within debt collection, invoice administration and advisory connected to credit management.

- Argus Kreditt is a good add-on to ECIT`s existing services within debt collection, invoicing services and credit management advisory adding a new office location in Southern Norway. We are pleased to welcome employees and customers of Argus Kreditt to ECIT, says Peter Lauring, CEO in ECIT.

ECIT is acquiring 90 % of the shares in Argus Kreditt. The acquisition has been paid partly with cash and partly with treasury shares. Following the completion of the above transaction, ECIT owns a total of 1,852,284 of own shares, corresponding to 0.410 % of ECIT's total registered share capital.

About Argus Kreditt AS

Argus Kreditt AS is a Norwegian debt collection company offering services within debt collection, invoice administration and credit management advisory. Argus Kreditt is located in Hønefoss. Read more on https://www.arguskreditt.no

For further information please contact

Iselin Paulsen, Head of Communication Mads Skovgaard, Group CFO

Iselin.paulsen@ecit.com mskovgaard@ecit.com

+47 901 40 166 +45 2780 4942

About ECIT

Founded in 2013, ECIT serves a large base of customers with accounting & payroll services (the F&A Division) and with a broad range of IT services (the IT Division). ECIT has a proven model for acquisition and integration, ensuring closeness to customers and local entrepreneurship combined with the strength of a larger international group. ECIT has a proforma revenue 2021 of 2.6 billion NOK and +2,200 employees across 10 countries. M&A has been a key driver of the Company's growth and ECIT has completed more than 130 acquisitions since 2013. Read more at https://www.ecit.com