SpectrumOne AB — M&A Activity 2020

Feb 17, 2020

TargetEveryone AB enters into agreement to acquire the remaining 70% of the Norwegian company Cloud Explorers AS

TargetEveryone AB enters into agreement to acquire the remaining 70% of the Norwegian company Cloud Explorers AS

TargetEveryone AB ("TargetEveryone") has entered an agreement to acquire the

remaining 70% of its Norwegian associated company Cloud Explorers AS ("Cloud

Explorers") to shake up market and ramp up business in Data Analytics. For

information on the terms of the acquisition, please see below under heading

"Acquisition terms".

For further details regarding financing of the acquisition, please refer to the

press release published 17. February 2020, 22:20 CET.

During the last period, both organisations have achieved major milestones.

TargetEveryone, under new leadership has implemented a major restructuring in

terms of strategic focus, operational costs, human resources and funding.

Resulting in a highly focused, lean and energetic organization primed for go to

market.

In parallel Cloud Explorers have worked diligently to develop unique platform

offerings. These complementary solutions can now be delivered as a

single coherent offering - SpectrumOne. This is already meeting immediate

success with key clients. Time has been spent maturing and refining both the

commercial and technical offering, driven by real-world experience and

deliveries. Trust has been established as a result of this with key partners and

significant market actors.

Executing on our highly ambitious acquisition strategy

By acquiring Cloud Explorers, TargetEveryone is demonstrating its ability to

deliver on its acquisition growth strategy. Throughout 2020 TargetEveryone

expects to announce further acquisitions that will substantially increase sales,

realize synergies and strengthen our development team.

Strong shareholders and secured funding

TargetEveryone's growth strategy has the support from its largest shareholders

and they have assured the company that they will support the company in

obtaining the required funding to realize its growth strategy. This will enable

TargetEveryone to grow, become profitable and get ready for an even larger

international market.

One company - tremendous success

With this acquisition, TargetEveryone becomes one with Cloud Explorers and can

benefit from the success the company has shown, but also achieves an opportunity

to scale up the overall business and grow together. This acquisition is a very

natural and strategic next step for both organisations to ensure

continuity, growth and joint success. Cloud Explorers has shown tremendous

success in its development, customer customization and business development with

very significant clients. Increasing and developing existing synergies, building

on the successful relationship established during the last two years will turn

to a new phase. Allowing both organisations to now take a single, focused

approach, responding to the huge market opportunities emerging daily in the new

data landscape.

About Cloud Explorers

Cloud Explorers was founded in 2011 with a vision to create leading solutions

based around Big Data, Analytics, Visualiztion and incredible user friendliness.

During the last eight years they have pioneered new approaches and techniques

allowing the creation of a truly unique platform. Providing solutions to actors

in various sectors such as Kantar Media, Egmont, Ice Communiations, CBRE and

many more. Solving their challenges. With offices in Oslo and Brussles Cloud

Explorers has a very talented and international team able to build and deliver a

market leading technology both today and into the future.

Cloud Explorers CEO, Stephen Karl Ranson said "Today is a great moment in our

journey to becoming a key actor in the Data Visualization and Analytics

marketplace. We are happy to finally be a part of a team we have worked closely

together with during the last two years and build the fundament of growth and

prosperity. With our ownership now expressed via joint share holdings in TEONE

we are all very passionate and highly motivated to build huge success and

shareholder value together".

TargetEveryone CEO, Hosni Teque-Omeirat said "The strategic acquisition of Cloud

Explorers, secures and completes a relationship we began two years ago, which

has proven to be and always seen as a perfect match. We are thrilled to

have Cloud Explorers a fully integrated and unified part of TargetEveryone. With

their growing client successes, the timing simply could not be better and

reflects our mutual strong belief in the future."

Acquisition terms

Under the share purchase agreement TargetEveryone will acquire the remaining 70%

of the shares in Cloud Explorers from the founders for a total purchase price of

SEK 62 500 000. Following the acquisition TargetEveryone will become the owner

of 100% of Cloud Explorers. The purchase price will be settled by SEK 50 000 000

in cash and 12 500 000 in shares in TargetEveryone. The purchase price will be

settled in two equal installments. The first installment to be settled on the

closing of the transaction, while the second installment and the share

consideration will be settled on or before 15. June 2020. The closing of the

transaction is subject to customary closing conditions and is expected to take

place on or about 1. April 2020. Under the share purchase agreement, Cloud

Explorers CEO, Stephen Karl Ranson, and CTO, Tristan Andre Fily have undertaken

to remain with the company for a period of at least 12 months. The shares to be

issued as consideration are subject to a lock up clause for a period of 12

months. The acquisition is conditional upon the shareholders' approval at an

extraordinary general meeting to be convened in the near future. TargetEveryones

largest shareholder, Vildmarksstugor i Norrland AB, has declared its intention

to vote for an approval of the acquisition.

For further information contact:

Hosni Teque-Omeirat

CEO

+46 70 225 18 77

hosni@spectrumone.com

Certified Adviser:

Mangold Fondkommission AB (556585-1267)

Box 55 691 102 15 Stockholm

Telefon: +46 8 503 015 50

ca@mangold.se

www.mangold.se

TargetEveryone AB (publ) is obligated to publish this information under the EU

Market Abuse Regulation. The information was provided by the above contact

person's auspices, for publication on February 17, 2020 at 10.20 p.m. CET.

About TargetEveryone

TargetEveryone is a MARTECH company, enabling our clients to streamline their 1

-1 digital marketing, content and experiences within one SaaS online platform.

Our unique solution makes marketeers able to easily target exactly the customers

they want, and communicate with them in the channels they prefer, to maximize

ROI. Our clients can easily segment their customers based on CRM data, market

data and transactional data. Further, they can use a campaign editor to quickly

build campaigns, and distribute these through our multichannel distribution

system either by Email, SMS or SMS landing pages. TargetEveryone´s headquarter

is in Oslo, with branch offices in Sweden, Holland and USA. TargetEveryone is

listed on Nasdaq First North Growth Market in Stockholm and Merkur Market in

Oslo.

www.targeteveryone.com