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ECIT AS M&A Activity 2022

Mar 25, 2022

3584_rns_2022-03-25_cecf7540-a17b-4bb1-97e2-ed5e99d3bb08.pdf

M&A Activity

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Fornebu, March 25, 2022

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

ECIT AS Company registration number: 912 040 801 Rolfsbuktveien 4A, 1364 Fornebu, Norway +47 22 72 14 14 www.ecit.com [email protected]