Thoma Bravo Completes Acquisition of Mercell Holding ASA

OSLO and SAN FRANCISCO - August 16, 2022 - Thoma Bravo, a leading software
investment firm, and Mercell Holding ASA ("Mercell") today announced the
completion of Thoma Bravo's acquisition of Mercell, a European provider of
e-tendering and procurement systems. 

Mercell, founded in 1999 and headquartered in Oslo, Norway, is the European
market's leading e-tendering software for public buyers and tender notification
software for public sector suppliers. Mercell's solutions help buyers and
organizations cut costs, grow their businesses and boost efficiency. Its
cloud-based platforms are responsive and accessible from anywhere, giving
customers insights and transparency.

The acquisition was first announced on May 25, 2022 and was completed on August
16, 2022. The acquisition was carried out through a voluntary cash offer by
Spring Bidco (Norway) AS, a company indirectly wholly owned by funds advised or
managed by Thoma Bravo, for all shares in Mercell at an offer price of NOK 6.30
per share and a subsequent compulsory acquisition of the remaining shares in
Mercell, as previously announced. The voluntary cash offer was completed on
August 8, 2022 and the compulsory acquisition was completed today, with
settlement to the former minority shareholders of Mercell taking place at the
latest on August 17, 2022. The shares of Mercell have, from August 12, 2022,
been suspended from trading on Oslo Børs and the shares will be delisted from
Oslo Børs as soon as practically possible.

"I am thrilled to partner with Thoma Bravo and leverage their deep operational
and investment expertise to achieve our global growth goals," said Terje Wibe,
CEO of Mercell Holding ASA. "I am proud of the entire Mercell team for helping
us reach this milestone, and I look forward to further success as we build upon
our market leadership position and continue to deliver customers best-in-class
e-tendering and procurement systems."

"Mercell's SaaS network of buyers and suppliers for public tendering is
extremely valuable and, as a private company alongside Thoma Bravo, Mercell is
well positioned to enhance its product offering and global growth," said George
Jaber, a Senior Vice President at Thoma Bravo. "Our team is excited to partner
with Mercell to help the company achieve its full potential and set Mercell up
for sustained long-term growth." 

"The European SaaS market is experiencing extraordinary growth and our
partnership with Mercell allows us to expand our presence in this important
global market. Thoma Bravo's partnership-driven approach will benefit Mercell
greatly through investments in product development and strategic acquisitions,"
said A.J. Rohde, a Senior Partner at Thoma Bravo.

Advisors

Skandinaviska Enskilda Banken AB (publ), Oslo Branch, acted as financial advisor
to Thoma Bravo. Advokatfirmaet Schjødt AS and Kirkland & Ellis LLP acted as
legal advisors to Thoma Bravo. ABG Sundal Collier ASA and JP Morgan acted as
financial advisors and Advokatfirmaet Thommessen AS acted as legal advisor to
Mercell.

About Thoma Bravo

Thoma Bravo is one of the largest private equity firms in the world, with more
than $114 billion in assets under management as of March 31, 2022. The firm
invests in growth-oriented, innovative companies operating in the software and
technology sectors. Leveraging the firm's deep sector expertise and proven
strategic and operational capabilities, Thoma Bravo collaborates with its
portfolio companies to implement operating best practices, drive growth
initiatives and make accretive acquisitions intended to accelerate revenue and
earnings. Over the past 20 years, the firm has acquired or invested in more than
380 companies representing over $190 billion in enterprise value. The firm has
offices in Chicago, Miami and San Francisco. For more information, visit
www.thomabravo.com.

About Mercell Holding

Mercell delivers services to public and private buyers and our goal is to become
the leading software-as-a-service (SaaS)-platform for e-tendering and
procurement in Europe. Mercell is already a leading platform for public
e-tendering and entered the procurement market in 2020, and services
approximately 30,000 customers across 15 European markets and in the US.
Mercell's unique marketplace simplifies the tender and procurement process and
makes it safe and easy for buyers to find relevant suppliers for their tenders
and daily purchasing needs. We also ensure suppliers find relevant business
opportunities and offer tools for suppliers to digitally receive and handle
purchases from public and private buyers.

Contacts

Megan Frank
Thoma Bravo Communications 
+1 212 731 4778 
mfrank@thomabravo.com 

or

Alexandra Barganowski
Fogel & Partners 
+46 72 0832750 
alexandra.barganowski@fogelpartners.se

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