Techstep acquires remaining shares in Swedish IT advisory company
In August 2017, Techstep acquired 51% of Conneqted 365 AB to strengthen its Enterprise Mobility Management (EMM) offering and presence in Sweden. The acquisition enabled Techstep to offer a Swedish one-stop-shop, as well as a pan-Nordic delivery model. Techstep has now exercised its right to acquire the remaining 49% of the shares.
“We are very pleased with Conneqted’s performance so far, and its people and competence will be important for the future growth of Techstep Sweden. On a group level, we are now integrating the companies we have acquired, aligning everyone behind one brand, industrialising our offerings and building a strong company culture. We look forward to get the Conneqted team fully onboard,” says Jens Haviken, CEO of Techstep.
Conneqted was established in January 2016 and offers a complete EMM service, including mobile security, system design, implementation, mobile device management, maintenance and support. The service is offered together with Techstep Sweden (formerly BKE Telecom AB) and ecosystem partners such as Telenor, Tele2, TDC, MobileIron, Citrix and Samsung. Headquartered in Karlstad, Conneqted serves large and medium sized companies including Volvo Cars, Svevia, Nasdaq, Wallenstam and Stockholm Stad.
“Combining our capacities and customers with Techstep’s platform, unlocks great potential for us. The customers want simple and secure mobile solutions and as part of Techstep we are very well equipped to deliver that”, comments Roger Lövgren, Managing Director of Conneqted.
The remaining 49% shares in Conneqted are currently owned by four of its employees. The purchase price of NOK 8.1 million will be settled in the form of Techstep shares (“the consideration shares”). The consideration shares will be issued under Techstep’s current board authorisation to increase the company’s share capital, adopted at the annual general meeting held on 26 April 2018. Signing of the agreement is subject to normal terms and is expected to be completed in July 2018. Please also refer to the stock exchange releases dated 15 and 31 August 2017, respectively.
Further information from:
Jens Haviken, CEO, Techstep ASA: +47 930 90 070
Marius Drefvelin, CFO, Techstep ASA: +47 958 95 690
About Techstep ASA
Techstep is positioning 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 220 employees based in Norway and Sweden, serving close to 6,000 customers and 641,000 end users across various industries in the private and public sectors. The company is listed on the Oslo Stock Exchange. For more information, please visit http://techstepasa.no/.