OSLO: Sikri Holding AS, a key player in the market for managing and archiving documents specialising towards the public sector and providing the software platforms, has today completed the acquisitions of Sureway AS and Whatif AS.
Sureway and Whatif have developed and operate cloud-based compliance and risk management solutions being used by many Norwegian municipalities, Regional Health Authorities, governmental institutions and governmental owned organisations. The companies are based in Harstad, Norway.
With these acquisitions, Sikri will be able to deliver cloud-based compliance and risk management solutions. The focus on compliance tools has increased in the recent years due to, among others, the introduction of the new General data protection regulations (GDPR), says Nicolay Moulin, CEO of Sikri.
The agreed enterprise value of the companies is NOK 21.5 million, with an additional NOK 5 million being paid as compensation for the companies’ consolidated net cash position.
Any deviation from NOK 3 million in consolidated EBITDA 2020 for the two companies will be multiplied by a factor of 6.45 shortly after the annual accounts of the two companies are approved by their general meetings in 2021.
AGP Advokater is acting as legal advisor to Sikri in connection with the transaction.
Sikri is a software company that specializes in delivering good digital solutions to the public sector in the Nordic region. Sikri has historically delivered the best digital solution for case management and archive systems to the public sector, and are now also delivering broad software solutions.
Sikri offers complete solutions for cloud services, conversion and delivery of databases and documents, as well as the construction case area (eByggesak), map and cadastre. Sikri Holding AS is a Norwegian private limited company having its shares admitted to trading on Merkur Market, an MTF operated by Oslo Børs, with ticker “SIKRI-ME”.