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ECIT AS

M&A Activity • Mar 25, 2022

3584_rns_2022-03-25_bf2e8422-ffe7-48e1-8241-50c4b8640fed.html

M&A Activity

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Divestment of Cloud Connection AS

Company announcement No. 63

PC System Senteret AS, a 70% owned subsidiary of ECIT AS, has accepted an offer to sell its shares in Cloud Connection AS. PC System Senteret AS owns 50% of Cloud Connection AS. The sale has no material financial impact.

* PC System Senteret AS has been merged into ECIT Capstone AS as per March 17th 2022.

About ECIT

ECIT was founded in 2013 and support a large customer base with accounting, payroll, and a broad range of IT services. ECIT has a well-proven model for acquisition and integration, ensuring proximity to customers and local entrepreneurship combined with the strength of a larger international group. ECIT has a proforma revenue (2021) of 2.55 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 125 acquisitions since 2013. Read more at www.ecit.com