Techstep ASA acquires remaining shares in Techstep Finance AS

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Techstep ASA has today entered and completed an agreement to acquire the remaining 20% of the shares in Techstep Finance AS from Bridge Capital AS for a cash purchase price of NOK 9 million. Following the completion, Techstep owns 100% of the shares in Techstep Finance AS.  

“We are transforming Techstep’s business model from one-off transactional sales to having full focus on selling our product offering as a recurring revenue bundle. This in turn means a mutual commitment and enhanced value for our customers as we focus on delivering high customer value.

Hardware-as-a-service is a key component of Techstep’s Managed Mobility Services-offering, and a contributor to our recurring revenues. Completing this acquisition is an important step for us in consolidating our business around our core products, SmartControl, SmartWorks and SmartDevice”, said Børge Astrup, Techstep’s CEO.

“I would like to take the opportunity to thank our former joint venture partner, Bridge Capital, for their contribution in establishing Techstep Finance’s success”, Astrup concludes.

For more information, please contact:

Børge Astrup, CEO: +47 928 27 676

This information has been published pursuant to section 5-12 of the Norwegian Securities Trading Act.

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