Nordhaven acted as exclusive financial advisor to Techstep ASA (OSE-listed) in the acquisition of 100% of the shares in Optidev AB

16 sept 2020

MMS is one of the fastest growing segments in the global Telecom and IT-services industry, and the acquisition of Optidev will significantly strengthen our position in this attractive segment” says Jens Haviken, CEO of Techstep. “We are two complementary businesses with great people and a sincere drive to deliver value-adding mobility solutions to our customers. Together, Techstep and Optidev will form a strong platform for growth.”

The total purchase price is SEK 200 million on a cash and debt free basis, payable through a combination of cash, equity and seller’s credit.

Optidev is a fast growing and profitable company which is expected to generate SEK 205 million in revenues in 2020 with a gross profit of SEK 113 million and EBITDA of SEK 36 million. Additionally, Optidev has an annual recurring revenue (ARR) from own developed software of SEK 22 million as of 30 June 2020, increasing Techstep's ARR by 60% to NOK ~60 million.

The combined company will be a leading IP and software-focused provider of deskless technology which help companies transform their capabilities by making work mobile, with strong established positions in Norway and Sweden, and a growing presence in Denmark. The acquisition is in line with Techstep’s communicated Nordic growth strategy.

About Techstep
Techstep is purpose-built to become a leading Managed Mobility Services provider in the Nordics. Techstep supplies hardware, software, connectivity and mobile device management bundled as a managed service. This enables enterprises and their employees to do their work across mobile devices and locations, with a high degree of security and operational stability. Techstep has 210 employees based in Norway and Sweden, serving close to 4,000 customers and 210,000 recurring revenue end-users across various industries in the private and public sectors. The company is listed on the Oslo Stock Exchange.

About Optidev
Optidev is a leading Nordic supplier of turnkey mobility solutions with focus on transportation and logistics and public safety sectors. The solutions include both software and hardware, enabling mobile access to mission critical information with automated data capture and traceability in real time. Optidev has 85 employees working from its offices in Sweden, Norway and Denmark. The company was founded in 2000.

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