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24SevenOffice Group AB announces settlement in the dispute with the founders of Busy Technologies AS

The settlement agreement entails that 24SevenOffice Group AB will pay 18 million NOK as the final earnout payment for the shares in Busy Technologies AS owned by the founders (49.7% of the outstanding shares). The agreement is a final settlement for all claims and counterclaims between the parties. Each party will cover their own legal expenses. The Norwegian Tax Administration has issued a notice of amendment to Busy Technologies AS’s tax filings for all previously received funding from the Norwegian SkatteFUNN, R&D tax incentive program, for the years 2018-2021. The notice entails a

24SevenOffice enters into a Memorandum of Understanding regarding a potential sale of parts of assets and subsidiaries

24SevenOffice Group AB (the “Company” or “24SevenOffice”) has today entered into a Memorandum of Understanding (“MoU”) with a buyer which is backed by one of the largest international asset managers (the “Purchaser”) regarding the potential sale of certain subsidiaries and assets of the Company (the “Transaction”). 24SevenOffice will retain several strategically important business units with high growth potential.The Transaction The Transaction perimeter consists mainly of the ERP related subsidiaries and assets, including among others 24SevenOffice Norway AS, 24SevenOffice Scandinavia

24SevenOffice Announces Launch of Strategic Partnership with Storebrand to Simplify Pension Management for Businesses

24SevenOffice is pleased to announce that it has launched a strategic partnership with Storebrand, one of the leading financial services providers in the Nordic region. This collaboration will allow 24SevenOffice to offer Storebrand’s pension solutions directly through its digital platform, further enhancing the value we provide to businesses and accounting firms.   As part of this partnership, 24SevenOffice has also been approved as a licensed ancillary insurance agent by the The Financial Supervisory Authority of Norway, enabling us to integrate Storebrand's pension products

Interim report, January - June 2024

For 1H 2024 net sales increased by 34% compared to 1H 2023. Consolidated net sales ended at 205,153 (SEK 000s). EBITDA totaled to 39,190 (SEK 000s). Operating profit, EBIT, was -3,259 (SEK 000s). Profit after tax was 400 (SEK 000s). Earnings per share was SEK 0.01. In Q2 2024 net sales increased by 35% compared to Q2 2023. Consolidated net sales ended at 100,644 (SEK 000s). EBITDA totaled to 15,696 (SEK 000s). Operating profit, EBIT, was -5,712 (SEK 000s). Profit after tax was -5,359 (SEK 000s). Earnings per share was SEK -0.08.CEO’s comments   Nasdaq-Listed and Extraordinary

24SevenOffice Group AB Announces Strategic Partnership with Lyvia Group AB

24SevenOffice Group AB is pleased to announce a strategic partnership with Lyvia Group AB, a leading technology conglomerate generating SEK 2.2 billion in revenue and offering a diverse range of software solutions and services across Europe. Lyvia Group has a strong emphasis on ERP solutions and implementation within its extensive portfolio.   After thorough evaluation, Lyvia Group has selected 24SevenOffice as a key solution provider for ERP and accounting solutions to its clients. This collaboration also positions 24SevenOffice as a preferred solution for Lyvia Group's own companies.

Extended Strategic Partnership between 24SevenOffice and HSB, Sweden’s largest federation of cooperative housing

HSB has signed a strategic and extended agreement with 24SevenOffice for an additional 4.5 years. The expected annual turnover for the agreement is approximately SEK 10 million. As the largest federation of cooperative housing in Sweden, HSB has been innovatively organizing cooperatives for over 100 years with the aim of improving housing and increasing residents' influence over their housing situation.  HSB manages invoice processing for more than 4,000 housing associations and approximately 350,000 apartments and 677,000 members. The AI accounting collaboration, which has been going on

24SevenOffice Announces Partnership with EyeOn Group to Strengthen Efforts Against Cybercrime

Oslo, July 8th, 2024 – 24SevenOffice, a leading provider of cloud-based ERP software, today announced a strategic partnership with EyeOn Group, a Swedish publicly traded company specializing in IT security and protection against cybercrime.This partnership represents a strong initiative for 24SevenOffice in addressing the ever-increasing threat of cybercrime and is in line with our political lobbying for more investigative resources from the police. Through this alliance, 24SevenOffice will integrate EyeOn Group's advanced security solutions into its existing systems, providing customers

24SevenOffice Group AB has received conditional approval for admission to trading on Nasdaq First North Growth Market and publishes its company description

24SevenOffice Group AB ("24SevenOffice" or the "Company") has today received conditional approval for admission to trading on Nasdaq First North Growth Market by Nasdaq Stockholm's listing committee. In connection with the list change, 24SevenOffice has prepared and today publishes a company description (the “Company Description”). The first day of trading on Nasdaq First North Growth Market is scheduled for July 12, 2024, and the last day of trading on Spotlight Stock Market is expected to be July 11, 2024.About the list change 24SevenOffice has received conditional approval for

24SevenOffice Forms Strategic Partnership with Simployer

Oslo, June 24, 2024 – 24SevenOffice, a leading provider of cloud-based ERP systems, is excited to announce a strategic partnership with Simployer. Simployer simplifies the workday for managers, HR professionals, and employees by offering modern HR software and personalized HR support to more than 12,000 companies and 1.2 million users across Norway, Sweden, Denmark, and Poland.   After a thorough process, Simployer has selected 24SevenOffice as one of its partners. This partnership aims to enhance the value Simployer delivers to its clients through 24SevenOffice’s efficient, user-

24SevenOffice Group AB presents its short term financial target of minimum 500 million in revenue

Stockholm, Sweden — 24SevenOffice Group AB, a leading provider of cloud-based business management systems, today announced its financial target for the short term following the management´s plan of profitable growth to reach a minimum recurring revenue of 500 million.   24SevenOffice´s financial target states that the company shall reach revenues of minimum 500 million SEK within the next 500 days with an EBITDA of minimum 50 million SEK.   “500 million in 500 days, with 50 million in profitability is a catchy and easily communicated target we can use in the short term both

Strategic Partnership between 24SevenOffice and ØkoRåd, Norway's largest franchise in accounting services

24SevenOffice, a leading provider of a cloud-based ERP system, is thrilled to announce a strategic partnership with ØkoRåd AS, Norway's largest franchise in accounting services. Recently, two of the former larger accounting service franchises in Norway, ØkoRåd AS and Vekstra AS, joined forces and formed ØkoRåd AS to become the largest chain in Norway. This collaboration is set to drive significant growth for 24SevenOffice, with an anticipated minimum increase in Annual Recurring Revenue (ARR) of at least 5 million SEK in the near term.   After a comprehensive evaluation of ERP

Announcement from 24SevenOffice Group AB's extra general meeting

Today on 10 June 2024 in Stockholm the extra general meeting (the "EGM") of 24SevenOffice Group AB ("24SevenOffice" or the "Company") was held and the following resolutions were passed by the meeting.Incentive program 2024/2028 The EGM resolved, in accordance with the board of directors' proposal, to implement an incentive program through issuance of a maximum of 1,750,000 warrants to senior executives and employees within the Company and the company group with tax residence in Sweden and Norway and to the Company, with subsequent transfer to senior executives and employees within the

Board and Management Acquires Shares in 24SevenOffice Group AB

24SevenOffice Group AB announces that due to the conclusion of Magnus Grøneng’s tenure as CFO, the board and senior management have purchased his shares at the original purchase price, in accordance with the existing agreement as the company cannot hold its own shares: Chairman of the board, Ståle Risa, has acquired 17,230 shares at a price of SEK 4.6 per share. Ståle Risa holds a total of 1,512,446 shares after the transaction. CEO, Eirik Aalvik Stranden, has acquired 17,230 shares at a price of SEK 4.6 per share. Eirik Aalvik Stranden holds a total of 454,990 shares after the

NOTICE OF EXTRA GENERAL MEETING IN 24SEVENOFFICE GROUP AB

The shareholders of 24SevenOffice Group AB, reg. no. 559120-8870, (the "Company") are hereby invited to the extra general meeting on Monday 10 June 2024 at 10.30 a.m. at Baker McKenzie's premises at Vasagatan 7 in Stockholm. Right to attend the extra general meeting and notice Shareholders who wish to attend the general meeting must: i. on the record date, which is Thursday 30 May 2024, be registered in the share register maintained by Euroclear Sweden AB; andii. notify the Company of their participation and any assistants (no more than two) in the general meeting no later than

24SevenOffice Group AB intends to transfer listing to Nasdaq First North Growth Market in mid-2024

The Board of Directors of 24SevenOffice Group AB ("24SevenOffice" or the "Company") has decided to apply for a listing transfer from Spotlight Stock Market to Nasdaq First North Growth Market in Stockholm. Nasdaq First North Growth Market is Nasdaq's European growth market, with the same legal status as Spotlight Stock Market, a multilateral trading facility.The change of marketplace is expected to take place in mid-2024 and is part of 24SevenOffice's expansion strategy. The Company will continue to apply the same accounting principles. Shareholders in 24SevenOffice will not need to take

Announcement from 24SevenOffice Group AB's annual general meeting

The annual general meeting (the "AGM") of 24SevenOffice Group AB ("24SevenOffice" or the "Company") was held today on 15 May 2024 and the following resolutions were passed by the meeting.Adoption of the income statement and the balance sheet The AGM resolved to adopt the income statement and the balance sheet in 24SevenOffice and the consolidated income statement and the consolidated balance sheet. Allocation of profit The AGM resolved not to pay any dividend to the shareholders and that the previously accrued profits, including the share premium account and year result would be

Interim report, January - March 2024

In Q1 2024 net sales increased by 33% compared to Q1 2023. Consolidated net sales ended at 104,509 (SEK 000s). EBITDA totaled to 23,493 (SEK 000s). Operating profit, EBIT, was 2,453 (SEK 000s). Profit after tax was 5,759 (SEK 000s). Earnings per share was SEK 0.08.CEO's comments Continuing Our Extraordinary Organic Growth Journey Reaching Positive Cash Flow I am truly proud and excited to share this quarter­ly report where the organic growth continued to be strong with a 33% year over year growth, the third consecutive quarter with over 30% growth. We also reached an important

Notice of annual general meeting in 24SevenOffice Group AB

The shareholders of 24SevenOffice Group AB, reg. no. 559120-8870, (the "Company") are hereby invited to the annual general meeting on Wednesday 15 May 2024 at 3 p.m. at Baker McKenzie's premises at Vasagatan 7 in Stockholm.Right to attend the annual general meeting and notice Shareholders who wish to attend the general meeting must: i. on the record date, which is Monday 6 May 2024, be registered in the share register maintained by Euroclear Sweden AB; andii. notify the Company of their participation and any assistants (no more than two) in the general meeting no later than

24SevenOffice Group AB - Update on the Convertible Loan from Lugar Road Capital

24SevenOffice has received several questions regarding the convertible loan in the company after the 4th quarter presentation and would like to share an update on the convertible loan. Please note that the terms of the loan remain unchanged from when it was established, this update is for information purposes only. The convertible loan is from a strategic US investor, Lugard Road Capital and has a maturity date at 31st December 2027. The loan will carry an annual interest of 1.5 percent. From 1st January 2025 to 31st December 2025 the loan will carry an annual interest of 3.5 percent and

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