Sikri Holding acquires Metria, a leading Swedish provider of geoinformation and planning & surveying services, and announces contemplated uplisting

01 Apr 2022 09:05 CEST

Company Name

SIKRI HOLDING

ISIN

NO0010881717

Market

Euronext Growth

Symbol

SIKRI

Oslo, April 1, 2022, at 09:05 CEST. Sikri Holding AS ("Sikri Holding" or the
“Company”), a leading provider of software and services towards the public and
private sectors, has entered into a binding agreement with the Kingdom of Sweden
regarding the acquisition of 100% of the shares in Metria AB ("Metria").

Sikri Holding has developed from a software house specializing in software and
services towards the public sector, to becoming a leading company also within
property data, property technology and data economics in the Nordics. Sikri
Holding’s customer base spans public sector as well as private businesses within
real estate, banking, insurance, property developers, media companies, builders,
property owners, taxation companies, engineers, power companies and building
materials production. The Company creates value for the public sector, private
businesses, and citizens, with an innovative approach to the use of data and
data analysis. Sikri Holding’s ambition is to build the leading Nordic ecosystem
for public administration, property technology, analysis and data. The
acquisition of Metria is a significant step in achieving this ambition,
establishing Sikri Holding as a powerhouse in the Nordic data and software
market.

Metria was formed in 2011 in conjunction with the corporatization of a division
of Lantmäteriet (the Swedish Mapping authority). The company has close to 250
employees across 20 locations in Sweden. Metria has an organisational structure
with two distinct business areas, Geoinformation and Planning & Surveying, each
with complete product and service offerings. Metria provides IT solutions and
services in GIS, geodata, business and real estate information and geodetic
surveying to authorities, municipalities and companies. The company utilizes
geographic information to digitize and automate customers’ processes and improve
decision-making. Main customers are represented in several industries such as
Public, Finance, Energy, Telecom, Forestry and Infrastructure.

Within Planning & Surveying, Metria offers measurement of land areas as well as
planning services ahead of various types of construction projects. Metria’s
consolidated revenue for 2021 was SEK 428 million, with an EBITDA-margin of
10.5%. Metria currently reports according to Swedish GAAP and does not currently
capitalize development costs. Identified potential capitalization will lead to
an adjusted 2021 EBITDA-margin of 12.2%.

Both Sikri Holding and Metria see expansion across the Swedish-Norwegian border
as a natural and strategically sound next step, and as a steppingstone for
further Nordic expansion. The combination of Sikri Holding and Metria will
strengthen both companies financially, competitively, geographically and from a
product offering- and competence perspective. Metria's strong position in the
market for property and real estate information in Sweden is to a large extent
similar to Sikri Holding's position in the same market in Norway, through
Ambita. However, the two companies also have complementary strengths as a good
basis for synergies. Prognoscentret AB is already present in Sweden, but will be
strengthened by leveraging Metria’s data and customer base. The combined forces
will ensure a strong Nordic platform with scale, as well as financial and
competitive strength to continue expanding.

CEO of Sikri Holding, Nicolay Moulin, says the acquisition of Metria provides
the group with stronger presence in Sweden. Sikri Holding already has a strong
position within public administration, property technology, analysis and data –
combining this with Metria’s leading position in geoinformation and planning and
surveying will lay the grounds for further growth in the Nordics, says Moulin.

CEO of Metria, Anders Hugosson, is very pleased with becoming a part of Sikri
Holding. – Sikri Holding as a new owner will give Metria a strengthened position
for further growth and innovation. Our products and services are highly
complementary and will enable development of new services, creating lasting
values for our customers. This will, without a doubt, strengthen our positions
in both markets.

The agreed enterprise value is SEK 650 million per 31 December 2021 (purchase
price of SEK 724.3 million). The transaction will close later today, 1 April,
2022. Financing of the transaction is secured from a mix of existing funds and
new funds to be obtained from bank financing.

ABG Sundal Collier acted as financial advisor and AGP Advokater and Baker
McKenzie (Sweden) acted as legal advisor to Sikri Holding in connection with the
acquisition of Metria.

Following the acquisition of Metria, Sikri Holding is contemplating a transfer
of listing venue from Euronext Growth to the Oslo Stock Exchange. The Company
expects the contemplated uplisting to contribute to improved visibility and
better liquidity through access to a larger investor universe. Sikri Holding has
appointed ABG Sundal Collier, Arctic Securities and Sparebank 1 Markets as
advisors in relation to the potential uplisting. Subject to prevailing market
conditions and receiving relevant approvals from the Oslo Stock Exchange and the
Financial Supervisory Authority of Norway, the Company expects the uplisting to
be completed by the end of the third quarter of 2022.

For further information, please contact:

Nicolay Moulin, CEO – Sikri Holding
E-mail: Nicolay.moulin@sikri.no. Telephone: +47 905 91 983

About Sikri Holding
Sikri is a Norwegian limited liability company listed on Euronext Growth Oslo,
Norway, under ticker "SIKRI". Sikri’s ambition is to build the leading Nordic
ecosystem for public administration, property technology, analysis, and data.
The Company has developed from a software house specializing in software and
services towards the public sector, to becoming a leading company also within
property data, property technology and data economics in the Nordics.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 of the Norwegian Securities Trading Act.

The stock exchange announcement was published by Camilla Aardal, CFO, Sikri
Holding AS at the time set out above.


Source

Sikri Holding AS

Provider

Oslo Børs Newspoint