Techstep ASA — M&A Activity 2010

Sep 1, 2010

Raima sale closed

Oslo, Norway and Seattle Washington USA, September 1st

2010, with reference to OSE release on July 5th and

Birdstep Technology's second quarter report, Birdstep

Technology ASA and Raima Holding Company LLC announced

today that all buyers and sellers conditions for

closing have been met and the transaction is closed as

of August 31st.

Raima had sales in 2009 of NOK 18 800 000 and an

EBITDA loss of 3 665 000.

The final purchase price for the shares has been

reduced by USD 26 615 to USD 610 739 following an

independent review of the accounts. Of the purchase

price, USD 376 974 have been received in cash and the

rest will carry interest and be paid down according to

a loan agreement between the parties.

Raima will be classified as asset held for sale in the

Group accounts up until the closing date in Q3. The

effect of the transaction and the net result of Raima

will be presented as result of discontinued operations

in the consolidated Group income statement in Q3 2010.

For further information, please contact

Torbjörn Sandberg

CEO in Birdstep Technology ASA

+46 70 5170964

Torbjorn.Sandberg@birdstep.com

Alex Gundersen

CFO in Birdstep Technology ASA

+47 41 474107

Alex.Gundersen@birdstep.com

About Birdstep

Birdstep Technology ASA is a leading provider of

secure and seamless wireless connectivity software for

operators, enterprises and mobile device

manufacturers. EasyConnect offers advanced connection

and service management solutions for network operators

and laptop manufacturers. SafeMove is a mobile VPN

solution providing seamless and secure connectivity to

business data for corporations and governments.

Birdstep Technology was founded in 1996 and is since

2002 listed on the Oslo Stock Exchange under the

ticker "BIRD". The company has 100 employees and is

headquartered in Oslo, Norway, with competence centres

in Sweden, Finland, UK and the United States. For more

information, visit www.birdstep.com.