OSE NOTIFICATION<br />
<br />
ARRIBATEC TO ACQUIRE QUALISOFT AS <br />
<br />
HIGHLIGHTS<br />
o A subsidiary of Arribatec Solutions ASA (Arribatec) has signed a Letter of
Intent (LOI) to acquire Qualisoft AS (Qualisoft), a leader in Enterprise
Architecture (EA) and Business Process Management (BPM) solutions<br />
o Qualisoft serves more than 100 of the larger companies within the oil and gas,
health- and finance sectors, in addition to the public sector, and employs 40
people  <br />
o Arribatec and Qualisoft will grow and expand the joint international SolaaS
including EA and BPM solutions<br />
o Qualisoft expects revenues of approximately NOK 67 million and positive EBITDA
of NOK 11 million in 2020. The total acquisition cost is expected to be NOK 75
million<br />
<br />
(Oslo, Norway, 2 December 2020) Arribatec Solutions ASA (OSE: ARR) today
announces the potential acquisition of Qualisoft, a leading and fast-growing
provider of Enterprise Architecture and Business Process Management
solutions.<br />
<br />
"Qualisoft has a strong position within the oil and gas, finance and the health
sectors, providing Enterprise Architecture and Business Process Management
solutions to over 100 tier-one customers. The potential acquisition will
strengthen our joint offering and we see a great potential in our strategy of
delivering Solution as a Service to international customers, including leading
Enterprise Architecture and Business Process Management solutions," says Per
Ronny Stav, Chief Executive Officer of Arribatec.<br />
<br />
Arribatec has entered into a LOI to acquire Stavanger based Qualisoft for a
total transaction cost of NOK 75 million, which will be settled with NOK 45
million in cash and 30 million in shares in Arribatec at NOK 2. Qualisoft serves
more than 100 of the larger companies within the oil and gas, health- and
finance sectors, in addition to public sector, and employs 40 people. The
company expects revenues of approximately NOK 67 million in 2020 with an EBITDA
of NOK 11 million. <br />
<br />
"Qualisoft brings a highly experienced management team, and consultants that
complements our current organization. Qualisoft has delivered a combined growth
of 70 percent the two last years, has a solid and growing pipeline with low
churn. By combing our capabilities, Arribatec and Qualisoft will grow and expand
SolaaS to include EA and BPM solutions globally and hence transform into a
recurring business model. We look forward to the potential business combination,
which ticks another box in our strategy of developing a fast-growing global
SolaaS company," Stav concludes. 	<br />
<br />
Arribatec and Qualisoft combined (including all recently announced Arribatec
acquisitions) expect proforma annual run rate revenues at the end of 2020 in the
range of NOK 420 million whereof 33% revenue from international operations and
annual recurring revenue of 35%, and a positive EBITDA. <br />
<br />
<br />
ENDS<br />
<br />
<br />
For additional information, please contact: <br />
<br />
Per Ronny Stav, CEO, Arribatec Solutions ASA: +47 994 42 378<br />
Martin Nes, Chairman of the Board, Arribatec Solutions ASA: +47 920 14 814<br />
<br />
About Arribatec | www.arribatec.com<br />
Arribatec is a software and consulting company headquartered in Oslo. With a
customer centric engagement model, combined with a deep system, integration, and
domain competence, Arribatec builds long term strategic partnership with a broad
customer base. Arribatec serves more than 400 large entities spread over 25
countries and various industries, both in the private and public sector. The
company employs over 300 people, taken announced acquisitions into account, with
offices in 11 countries and is listed on the Oslo Stock Exchange under the
ticker code ARR.