Done.ai Group AB ("Done.ai") has entered into an agreement to acquire 51% of the shares in Frisikt AS ("Frisikt"), a leading Norwegian professional services and technology firm offering a broad portfolio across accounting and payroll, strategic advisory, IT support, and recruitment services. This strategic acquisition significantly enhances Done.ai's ability to deliver intelligent software with embedded services to SMEs across the Nordics.

With a team of over 175 highly skilled professionals, Frisikt has become a trusted partner for businesses looking to modernize their operations and strengthen long-term competitiveness. The company brings deep expertise in accounting and payroll, business process automation, ERP implementation and integration, advisory services, and regulatory compliance. The acquisition of Frisikt enables the strategic expansion of Done.ai by providing both the operational depth and domain expertise needed to support SMEs with integrated technology and financial services, delivering value through platform scale, customer reach, and on-the-ground execution.

Strategic Rationale

The acquisition of Frisikt represents a strategic milestone in Done.ai's transformation into a full-service, AI-native business platform provider. By combining Done.ai's modular software suite including a fully-fledged MRP system, embedded fintech platform, CRM, and HRM with Frisikt's operational capabilities and on-the-ground customer relationships, Done.ai significantly strengthens its position as a one-stop shop for businesses seeking to streamline and modernize their operations.

Frisikt brings not only deep expertise in accounting, ERP implementation, and regulatory compliance, but also direct access to a wide and growing customer base across Norway. This gives Done.ai a powerful new distribution channel for its software portfolio, ensuring faster go-to-market and increased adoption across core product lines.

Crucially, the integration of Frisikt's outsourced accounting and advisory services with Done.ai's intelligent platform allows customers to access both technology and day-to-day financial operations in one seamless experience. This positions Done.ai as a uniquely capable partner for SMEs by combining automation, compliance, and strategic support into a unified solution for business operations.

The partnership also enhances Done.ai's ability to meet regulatory and operational requirements tied to its expanding fintech offering, including treasury management, embedded payments, spend management, and open banking services. These are all being deployed across Done.ai's rapidly growing ecosystem to enhance value for customers and accelerate adoption.

Frisikt services is a strategic milestone and foundation for building the fully integrated and AI enabled end-to-end platform of services to businesses through the Done.ai platform.

"We are continuously evaluating new services and technology to integrate into the Done.ai platform creating the first true AI enabled end-to-end platform and are excited that Frisikt share the same vision.", says Staffan Herbst, CEO in Done.ai Group AB

Financial Performance and Outlook

Frisikt reported consolidated revenues of MNOK 174 in 2024, with an EBITDA of MNOK 11.4, reflecting a solid operational foundation and strong, growing customer demand for its services. Synergies with Done.ai lie in the integration of ERP and MRP implementation capabilities with Frisikt's operational expertise, and in leveraging Frisikt's established customer base to distribute Done.ai's embedded fintech solutions currently being launched in partnership with Nordiska Kreditmarknadsaktiebolaget (publ) and all future products under the Done.ai platform. Together, these strengths are expected to significantly accelerate revenue growth and enhance long-term profitability.

"This acquisition is not only about technology, it's about people," says Staffan Herbst, CEO & CFO of Done.ai. "Frisikt brings the expertise we need to scale rapidly and deliver on our vision of becoming the leading AI-powered business platform for SMEs across the Nordics. With their implementation strength, operational services, and regulatory know-how, we can significantly accelerate the rollout of our ERP/MRP systems and embedded financial services while helping customers succeed with both software and support."

Transaction Structure

Done.ai will acquire shares in Frisikt AS, corresponding to 51% ownership, through a combination of subscription rights, direct share subscriptions, and secondary share purchases. The total investment for the subscription rights purchase and the new share issue amounts to MNOK 49.8, where MNOK 36.7 of the proceeds will be retained by the company to support continued growth and development. In addition Done.ai will acquire existing shares from current shareholders for a total consideration of MNOK 52.2. This portion of the transaction will be settled as a seller's credit which can be settled in shares or cash no later than August 31, 2025.

In total, Done.ai's investment amounts to approximately MNOK 102, resulting in a 51% ownership stake in Frisikt AS.

The remaining 49% of shares in Frisikt will be subject to options, exercisable by June 2026. The agreed purchase price for this second tranche includes a 10% premium over the valuation applied in the initial transaction. If exercised, settlement will be made either in cash or in shares of Done.ai, at Done.ai's discretion, and will occur no later than one month after the option is exercised.

This agreement is subject to final approval by the board of directors of Done.ai and satisfactory due diligence.

About Done.ai

Done.ai has entered a new chapter marking its transformation from a traditional ERP vendor into a one-stop shop for modern businesses, offering an integrated suite of AI-powered tools that span the full operational workflow. With a modular, API-first architecture, businesses can manage their entire value chain, from first customer touchpoint to back-end accounting, fully integrated in one automated, end-to-end platform.

Through the integration of embedded financial services such as automated treasury management, payment solutions, spend management, and open banking, Done.ai aims to redefine how businesses manage liquidity and financial operations. These services will initially be launched through an exclusive three-year distribution agreement to 24SevenOffice's extensive customer base, ensuring rapid rollout and adoption.

Combining deep technological expertise, strategic partnerships, and AI-driven automation, Done.ai delivers real-time financial control, operational efficiency, and unmatched scalability, positioning the company as a leading AI-native fintech platform for the business sector.

Done.ai is headquartered in Sweden and listed on Nasdaq First North Growth Market under the ticker 247. The ticker is expected to change to "DONE" following the general meeting on April 10 2025.

About Frisikt AS

Frisikt is a Norwegian professional services and technology company with over 175 employees, delivering a comprehensive range of solutions across accounting and payroll, business advisory, IT support, and recruitment. With deep sector expertise, including in agriculture and sustainability, Frisikt empowers clients to drive efficiency, ensure compliance, and enable long-term growth. By combining financial competence, strategic insight, and hands-on operational support, Frisikt serves as a trusted partner for businesses navigating digital transformation and modern operational demands.