Techstep ASA — M&A Activity 2020

Apr 3, 2020

Techstep divests its IT Operations and Support unit to Crayon

Techstep divests its IT Operations and Support unit to Crayon

Techstep Norway AS (a fully owned subsidiary of Techstep ASA) has entered into

an agreement to transfer its IT Operations and Support business unit to Crayon

AS for a total consideration of NOK 8 million. The transaction is structured as

an asset purchase, effective from 1 April 2020. At the same time, Techstep has

signed a 3-year agreement with Crayon for IT Operations and Support.

The IT Operations and Support unit has been a part of Techstep's solution

segment with 8 employees in the Nordics. The business unit has provided network,

server and computer support for Recover Nordic Group, and the divestment is a

natural step in Techstep's strategy as a software and IP-led mobility enabler.

"We are transforming into a pure software and IP-driven mobility provider and we

are aligning all our activities to bring our software and IP to the market. This

transaction helps to sharpen our focus and prioritize our resources towards our

goal of becoming the leading enabler of the mobile workplace in the Nordics."

says Jens Haviken, CEO of Techstep ASA.

Further information from:

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

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

About Techstep ASA

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

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

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

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

degree of security and operational stability. Techstep has 211 employees based

in Norway and Sweden, serving close to 4,000 customers and 201,000 recurring

revenue end-users across various industries in the private and public sectors.

The company is listed on the Oslo Stock Exchange. For more information, see

www.techstepasa.no