Oslo, 1 November 2022 at 13:37 CET. Sikri Holding has entered into an agreement
with Construction Analytics AS to divest its ownership in Prognosesenteret
(Prognosesenteret AS and Prognoscenteret AB), an independent market analysis
company that specialises in the Nordic construction and property markets.
The transaction is structured as a sale of 51% of the shares in 4CastGroup AS
that is owned by Ambita AS. As part of the transaction, all subsidiaries and
investments owned by 4CastGroup AS with business activities within property
technology ("proptech") are transferred to Ambita. These will form an important
part of Ambita going forward to accelerate its focus on proptech. The simplified
ownership structure will make it easier for Sikri Holding to leverage these
strategic holdings. The remaining parts of 4CastGroup (including
Prognosesenteret AS/AB) will be sold to Construction Analytics. As a result of
the transaction, Sikri Holding makes another important step to fulfil its
ambition to focus on being a pure SaaS-player in the Nordic market.
"The agreement to divest the market analysis company Prognosesenteret sharpens
our strategic focus on facilitating and integrating the property life cycle
through SaaS-based information and data services. We also acknowledge that the
continuity in the ownership of Prognosesenteret will secure a seamless
transition for Prognosesenteret's employees and clients," said CEO of Sikri
Holding, Nicolay Moulin.
"Ambita and Sikri Holding have been active and supportive owners of
Prognosesenteret. We are now embarking on a new chapter in our company's journey
and look forward to building our position as the leading Norwegian real estate
and construction research provider under new ownership," said Bjørn Birkeland,
CEO of Prognosesenteret.
The transaction values Prognosesenteret at an enterprise value (EV) of NOK 255
million, implying a cash EBITDA (EBITDAC) multiple of 18.2 using 2021 figures.
For Sikri Holding, the expected gross proceeds of the sale are NOK 142 million.
Sikri Holding will continue to develop the prop tech portfolio previously a part
of 4CastGroup, and the cash effect of the transaction is NOK 108 million, of
which NOK 37.5 million is a two-year sellerŽs credit. Prognosesenteret has been
part of Sikri Holding (through Ambita) since it was acquired on 9 September
2019, at an enterprise value (EV) of approximately NOK 140 million.
Closing of the transaction is expected on or about 15 November 2022.
Prognosesenteret, including 4CastGroup AS, had full year 2021 revenues of NOK 75
million, with an EBITDA of NOK 22 million (EBITDAC NOK 14.0 million). During the
first half of 2022, revenues were NOK 40 million, with an EBITDA of NOK 13
million (EBITDAC NOK 8.0 million).
For further queries, please contact:
Sikri Holding ASA:
Nicolay Moulin
Chief Executive Officer
Tel: +47 90 59 19 83
Email: Nicolay.moulin@sikri.no
Camilla Aardal
Chief Financial Officer
Tel: +47 97 10 51 55
Email: Camilla.aardal@sikri.no
Prognosesenteret AS:
Bjørn Mangor Birkeland
CEO Prognosesenteret
47 97 70 07 72
About Sikri Holding ASA
Sikri Holding is a software house providing highly specialized software and
services towards the public sector and a leading company within property data,
property technology and data economics in the Nordics. Our 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. We create value for public sector, private businesses, and citizens,
with an innovative approach to the use of data and data analysis. Our ambition
is to build the leading Nordic ecosystem for public administration, property
technology and data.
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 ASA at the time
set out above.