On 12 March 2017, Techstep ASA (“Techstep” or the “Company”) entered into a binding agreement with SysTown International AB to acquire InfraAdvice Sweden AB (“InfraAdvice”) for an aggregated purchase price of SEK 18.5 million. The purchase price will be settled with SEK 14.0 million in cash and SEK 4.5 million in Techstep shares based on volume weighted share price 15 days prior to closing. Closing is subject to customary conditions and is expected ultimo March.

The shares to be issued to SysTown International AB will be issued under Techstep’s current board authorization to issue shares approved at the extraordinary general meeting held at 28 February 2017. The shares will be issued on a separate ISIN pending approval and publication of a listing prospectus which is currently being prepared by the Company. Following publication of the prospectus, the shares will be transferred to the ordinary ISIN of the Company and will from such time be admitted to trading on Oslo Børs.

SysTown International AB will have a lock-up on the consideration shares with 1/3 until 1 March 2018, 1/3 until 1 September 2018 and 1/3 until 1 March 2019.

About InfraAdvice

InfraAdvice is a Swedish Enterprise Mobility Management specialist mainly based in Stockholm, but also with offices in Luleå and Strängnäs. The company’s board of directors comprises of Annika Johansson and Patrik Johansson, the management comprises of Patrik Johansson, and the company has 10 employees and full time contractors including management. InfraAdvice had a turnover of approximately SEK 17.6 million and an EBIT of approximately SEK 3.8 million in the financial year 01.09.15-31.08.2016, and a turnover of approximately SEK 21.0 million and an EBIT of approximately SEK 3.9 million the financial year 01.09.14-31.08.2015. InfraAdvice has a net cash position of approximately SEK 1.6 million as of 28.02.2017. InfraAdvice has a pan-Nordic customer portfolio of mainly large corporates and municipalities and has developed partnerships with amongst other VMware End User Computing, AirWatch by VMware, Apple Consulting Partner, Samsung SEAP, Oracle Mobile Cloud and PhishMe.

 Gaute Engbakk, CEO of Techstep, says:

“With the acquisition of InfraAdvice we are getting an excellent platform for our Swedish growth ambitions. This will increase the scalability of our business model with both the newly acquired Mytos and SmartWorks benefiting from easier access to the Swedish market. InfraAdvice possess’ much of the same competence as Smartworks, but have very complementing customer portfolios and strengthens our delivery capability. Greater Swedish presence, and thereby a stronger Nordic offering, has been one of our main goals for 2017, and I am very happy we were able to deliver on this already in Q1.”

Patrik Johansson, CEO of InfraAdvice (and previous owner) comments:

“We are very much looking forward to become part of the Techstep family. We are focusing on the same market space, have the same innovation and quality driven approach and we are working with the same partners. I believe this is the start on an exciting journey with a wider and stronger offering, both for our customers and employees.”

Except for the seller’s right to receive consideration for its shares in InfraAdvice, the transaction does not involve any specific rights to the benefit of the members of the board of directors or the executive managements of Techstep or InfraAdvice respectively, nor is any such agreements expected to be entered into.

For further information please contact:

Gaute Engbakk, CEO of Techstep: +47 91633281
Marius Drefvelin, CFO of Techstep: +47 95895690

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

About Techstep

Techstep has established itself as a leading B2B provider of mobility and communications services in Norway. Digitization of society and business is changing the mentality of the telecom industry as well as the organizations and people it serves. Focus is moving from infrastructure and devices to value adding services. This creates new market opportunities, and Techstep, along with its subsidiaries, are building and expanding their market offerings to become the preferred digital workplace vendor. The strategy for building the solutions platform is through organic innovation, acquisitions and partnerships with an aim to become a fully integrated digital solutions provider. In pursuit of the growth strategy, Techstep is backed by strong investors known for creating value through transformation.

Techstep has two main business segments: Hardware, represented by Nordialog Oslo, and Solutions, represented by SmartWorks and Mytos. These companies are subsidiaries of Teki Solutions, which is controlled by Techstep. Nordialog Oslo represents one of the global mobile operator Telenor’s key distribution channels of devices and mobile subscriptions to the Norwegian business segment.

About Us

Techstep is positioning itself as a leading Nordic enabler of the digital workplace. Techstep’s “Mobile as a Service” (MaaS) offering is a one-stop-shop solution, which combines hardware, subscription & connectivity, mobile device management, managed services and related software, in addition to financing. The MaaS solution enables enterprises to let employees do their work across mobile devices and locations, with a high degree of security and operational stability. Techstep has approximately 200+ employees based in Norway and Sweden, serving close to 6,000 customers and 600,000 end users across various industries in the private and public sectors. The company had pro forma sales of approximately NOK 950 million in 2016, and is listed on the Oslo Stock Exchange. For more information, please visit