Techstep ASA — M&A Activity 2024

Feb 28, 2024

Techstep signs strategic partnership agreement with devicenow for Lifecycle Portal

Techstep signs strategic partnership agreement with devicenow for Lifecycle Portal

Techstep has entered into a strategic partnership agreement with devicenow, a

global provider of subscription-based IT devices, to introduce Lifecycle Portal

to a wider customer base worldwide.

Lifecycle Portal is Techstep's proprietary software for automated device

lifecycle management. It enables customers to control every lifecycle event of

their device estate from purchase and onboarding to offboarding and recycling.

Lifecycle Portal allows customers to free up time, reduce cost, and adopt more

sustainable practices in device handling.

Devicenow, a German-based company and part of the CHG-MERIDIAN Group, has a

global reach across 190 countries and serves several major global customers.

Devicenow's vision is to become the leading player in the global DaaS

marketplace with environmentally conscious IT device subscription, a market that

is expected to grow from about USD 30 billion at the beginning of the decade to

almost USD 500 billion in 2028. Through the strategic partnership with

devicenow, Techstep increases its global reach whilst devicenow can add further

great value to their offering through the Lifecycle Portal. Besides new

customers, existing customers have the option to migrate over time.

The collaboration aims to enhance the value proposition and user experience for

devicenow's global customers while supporting their sustainability objectives

and circular economy approach. Furthermore, the agreement presents opportunities

to incorporate Techstep's managed services into devicenow's portfolio.

"Techstep's lean and user-friendly lifecycle portal offers a great contribution

to our global solution and fits perfectly well to our strategy of making the

lifecycle management for our customers as simple possible", says Steffen

Reichmann, Managing Director of devicenow.

The partnership with devicenow is the first in Techstep's revised indirect

business model, where partner sales is an important channel for highly scalable

solutions as own software and managed services.

"This partnership marks a pivotal moment for Techstep's revised indirect

business model and gives us a great opportunity to seize significant growth in a

steeply growing market," comments Morten Meier, CEO of Techstep, before

concluding "Partner sales will be an important contributor for advancing

Techstep towards its goal of becoming the leading mobile technology company in

Europe".

Techstep anticipates commencing the partnership with devicenow by the end of

second quarter this year, initiating commercial training immediately.

Additionally, Techstep is actively pursuing other significant partnerships and

opportunities, with expectations to finalise agreements in the upcoming months.

Further information from:

Morten Meier, CEO, Techstep ASA, +47 97 05 77 17

Ellen Solum, CFO, Techstep ASA: +47 976 66 717

About Techstep ASA

Techstep is a mobile technology company that enables organisations

to perform smartly, securely and sustainably through combining software, mobile

devices and expertise to meet customers´ business and ESG goals. We are a

leading provider of managed mobility services in Europe, serving more than 2,000

customers with an annual revenue of NOK 1.3 billion in 2022. The company

is listed on the Oslo Stock Exchange under the ticker TECH. To learn more about

us, please visit www.techstep.io (http://www.techstepasa.no/).

About devicenow

Devicenow is a global provider of subscription-based workplace IT devices,

enabling enterprises to enjoy standardised IT solution with the freedom of

upgrades. Their approach is based on circular economy to make IT more

sustainable, with lifecycle services from financing and device procurement to

certified data erasure and remarketing. Devicenow is a professional start-up, a

part of CHG-MERIDIAN Group, the European market leader in IT leasing with over

four decades of experience in technology management. For more information,

please visit www.devicenow.com