OSLO: Arribatec Solutions ASA has announced the potential acquisition of Qualisoft, a leading and fast-growing provider of Enterprise Architecture and Business Process Management solutions.
“Qualisoft has a strong position within the oil and gas, finance and the health sectors, providing Enterprise Architecture and Business Process Management solutions to over 100 tier-one customers. The potential acquisition will strengthen our joint offering and we see a great potential in our strategy of delivering Solution as a Service to international customers, including leading Enterprise Architecture and Business Process Management solutions,” says Per Ronny Stav, Chief Executive Officer of Arribatec.
Arribatec has entered into a LOI to acquire Stavanger based Qualisoft for a total transaction cost of NOK 75 million, which will be settled with NOK 45 million in cash and 30 million in shares in Arribatec at NOK 2.
Qualisoft serves more than 100 of the larger companies within the oil and gas, health- and finance sectors, in addition to public sector, and employs 40 people. The company expects revenues of approximately NOK 67 million in 2020 with an EBITDA of NOK 11 million.
“Qualisoft brings a highly experienced management team, and consultants that complements our current organization. Qualisoft has delivered a combined growth of 70 percent the two last years, has a solid and growing pipeline with low churn. By combing our capabilities, Arribatec and Qualisoft will grow and expand SolaaS to include EA and BPM solutions globally and hence transform into a recurring business model. We look forward to the potential business combination, which ticks another box in our strategy of developing a fast-growing global SolaaS company,” Stav concludes.
Arribatec and Qualisoft combined (including all recently announced Arribatec acquisitions) expect proforma annual run rate revenues at the end of 2020 in the range of NOK 420 million whereof 33% revenue from international operations and annual recurring revenue of 35%, and a positive EBITDA.
Arribatec Solutions ASA is a software and consulting company headquartered in Oslo. With a customer centric engagement model, combined with a deep system, integration, and domain competence, Arribatec builds long term strategic partnership with a broad customer base.
Arribatec serves more than 400 large entities spread over 25 countries and various industries, both in the private and public sector.
The company employs over 300 people, taken announced acquisitions into account, with offices in 11 countries and is listed on the Oslo Stock Exchange under the ticker code ARR.