Techstep ASA - M&A Activity 2022 | FinancialReports.eu

Techstep acquires cybersecurity SaaS company Crypho

Techstep ASA ("Techstep"), has signed an agreement to acquire the entire share

capital of Crypho AS, an end-to-end encrypted enterprise software as a service

(SaaS) messaging and file-sharing application.

Crypho was established in Norway by security and cryptography specialists. The

company delivers secure end-to-end encryption, chat, file sharing and video

communication for organisations. Existing customers include segments such as law

enforcement, government, health and other private sector businesses.

Through its managed mobility solution "SmartControl", Techstep provides

enterprises with mobile security. Crypho's end-to-end encrypted messaging and

file-sharing complements Techstep's existing offering and delivers features

relevant to any organisation.

"With the acquisition of Crypho, we continue to expand and strengthen Techstep's

product offering. We will bring Crypho's unique technology and software solution

to our customer base across Europe, providing easy to use, GDPR compliant and

secure communication for any organsiations", says Børge Astrup, Techstep CEO.

Crypho has an ARR of NOK 1.9 million, and Techstep expect a positive development

during 2022. Techstep will leverage its platform and customer base to scale the

technology and further develop the software solution with its in-house expertise

and R&D capabilities. The acquisition is mainly related to technology and IP and

Techstep will therefore not take on significant new costs following the

acquisition.

The acquisition price is NOK 10 million at enterprise value basis and is fully

financed through a combination of share issue, earn-out and debt.

For more information, please contact:

Børge Astrup, CEO: +47 928 27 676

About Techstep

Techstep is a complete mobile technology enabler, making positive changes to the

world of work; freeing people to work more effectively, securely, and

sustainably. We help customers who want to work smarter, while also delivering

on their ESG commitments. With more than 350 employees based in Norway, Sweden,

Denmark, and Poland, we serve more than 2,000 enterprise customers in Europe.

Techstep has NOK 1.3 billion in full year 2021 revenues, and is listed on the

Oslo Stock Exchange under the ticker TECH. To learn more, please visit

http://www.techstep.io.

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.

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