ECIT AS has entered into an agreement to acquire 50.1% of the shares in Intunor Services AS. Company announcement No. 104

ECIT AS (ECIT) hereby announce that ECIT has entered into an agreement to acquire
50.1% of the shares in the Norwegian finance & accounting company Intunor Services AS (Intunor) including an option agreement to acquire the remaining 49.9% of the shares. The transaction is subject to regulatory approval and completion of the transaction and a closing announcement can, subject to regulatory approvement, be expected in 4th quarter 2022

Intunor, with an experienced staff and an attractive portfolio of customers, will strengthen the geographical presence, industry position and competence base in ECIT.

- Intunor has been searching for an industrial partner to secure business development
and further growth. We are very satisfied to sign an agreement with ECIT. The signature
is a milestone to secure future development of Intunor and joining ECIT will strengthen
the growth potential in all our regions, says Frode Røste, Chairman of the board in

- We are very pleased to welcome the employees and customers of Intunor to ECIT,
says Peter Lauring, CEO in ECIT

About Intunor Services AS

Intunor is a Norwegian finance and accounting company offering services based on
modern ERP systems for business administration, services for specialized industry solutions and advisory services. Intunor including subsidiaries employ 135 employees, serves more than 1300 customers and delivered a 2021 revenue of MNOK 129. Intunor is located in Oslo, Gardermoen, Tønsberg, Harstad, Bodø og Rognan.


About ECIT

ECIT was founded in 2013 and supports a large customer base with Accounting, Payroll and a broad range of IT services and solutions. ECIT has a well-proven model for acquisition and integration, ensuring proximity to customers and local entrepreneurship combined with the strength of being a larger international group. ECIT has a proforma revenue (2021) of 2.55 billion NOK and +2,200 employees across 10 countries. M&A has been a driver of the Company's growth and ECIT has completed more than 125 acquisitions since 2013.

Read more at: