Techstep ASA — M&A Activity 2019

Jun 24, 2019

Techstep signs a Nordic Mobile as a Service agreement with Coor Service Management

Techstep signs a Nordic Mobile as a Service agreement with Coor Service Management

Techstep has signed a Nordic Mobile as a Service (MaaS) agreement with Coor

Service Management, a leading provider of facility management services in the

Nordics. Techstep will deliver mobile units, device management, service and

support, as well as financing to 5,350 of Coor's employees in Norway, Sweden,

Denmark and Finland.

"Outsourcing handling and financing of mobile units to Techstep, will allow Coor

to reduce the administrative burden and capex related to mobile devices. We look

forward to continuing the good cooperation with Telenor and help Coor's

employees work better and more efficiently", says CEO Jens Haviken in Techstep.

Telenor, which is the contracting party, will be the mobile operator in Norway,

Finland and Denmark, while Techstep as a sub-supplier to Telenor will deliver

and operate the mobile units for Sweden, Norway, Finland and Denmark. Total

potential contract value for Techstep is estimated to SEK 36 million over three

years, with expected revenue starting this year.

About Coor

Coor is a leading provider of facility management services in the Nordics,

focusing on integrated and complex service undertakings (IFM). Coor offers

specialist expertise in workplace services, property services and strategic

advisory services for development of customers' service activities. Coor creates

value by executing, leading, developing and streamlining its customers' service

activities, ensuring that they provide optimal support to the core business over

time. Coor's customer base includes many large and small companies and public

-sector organisations across the Nordic region, including ABB, AB Volvo, Aibel,

Det Norske Veritas, E.ON, Ericsson, NCC, Politiet (Danish Police), Saab,

Sandvik, SAS, Equinor, Telia Company, Swedish Transport Administration,

Vasakronan and Volvo Cars. Coor was founded in 1998 and is listed on Nasdaq

Stockholm since 2015. Coor's net sales are some SEK 9,900 million and has some

11,000 employees. Coor takes responsibility for the operations it conducts, in

relation to its customers, employees and shareholders, as well as for its wider

impact on society and the environment.

About Techstep ASA

Techstep is positioning itself as a leading Nordic enabler of the digital

workplace. Techstep delivers hardware, software, connectivity and mobile device

management bundled as a managed service. This enables enterprises and their

employees do their work across mobile devices and locations, with a high degree

of security and operational stability. Techstep has 223 employees based in

Norway and Sweden, serving close to 6,000 customers and 677,000 end users across

various industries in the private and public sectors. The company is listed on

the Oslo Stock Exchange.

For further information

Jens Haviken, CEO, Techstep ASA: +47 930 90 070

Marius Drefvelin, CFO, Techstep ASA: +47 958 95 690