Stockholm, 30 September 2026 - Beyond Frames Entertainment AB (publ) ("Beyond Frames") announces that Corvenia, which the company has previously announced a letter of intent to acquire through a reverse takeover, has received an order from the Norwegian industrial group Demano Group AS. Corvenia's AI-based platform for group management and analytics will be implemented across Demano's seven companies. The deal demonstrates how the platform can be used by acquisition-driven industrial groups ahead of the planned transaction with Beyond Frames.
Demano Group is a Nordic industrial group with the defence industry and civil preparedness as key growth areas. In less than a year, the group has grown through several acquisitions and reported pro forma revenue of approximately SEK 367 million and EBITDA of approximately SEK 38 million for 2025. The group has around 110 employees and operations in Norway and Denmark. Its customers include Kongsberg, TechnipFMC and Volvo.
In a first phase, the agreement covers Demano's current seven companies and is priced per connected company. Demano has communicated that the group intends to continue growing through acquisitions. If more companies are connected to the platform, the value of the agreement increases. The initial value of the agreement is not considered material to Corvenia's revenue.
For Corvenia, the order represents a new use case at an acquisition-driven industrial group with exposure to, among other areas, the defence industry. It shows how the platform can follow a customer's expansion, without implying that future acquisitions or additional connections are guaranteed.
Demano has selected Corvenia's platform to collect, normalise and consolidate financial and operational data from the group's companies. The solution connects to existing business and finance systems and enables ongoing monitoring of, among other things, costs, margins, cash flows and operational KPIs. According to Corvenia, the platform can be implemented in newly acquired businesses within a few hours.
"For us, Corvenia is not just about better reporting. We need to understand quickly how each company is performing and what is driving costs and margins. When we acquire a new company, we can normalise the data down to transaction level within a few hours and understand what we have actually bought. This gives us faster control without first having to replace the companies' existing systems. At the same time, we are building a common data foundation to enable the use of AI across the entire group," says Jostein Devold, CEO and partner of Demano Group AS.
On 18 September 2026, Beyond Frames announced that the company had entered into a letter of intent with Corvenia regarding a reverse takeover. Under the planned transaction, Corvenia's business is to become the main business of the combined company, and Corvenia's current owners are expected to receive approximately 75 percent of the shares. Corvenia is at an early commercial stage and has communicated an expectation of reaching profitability during 2027.
"The Demano deal gives our shareholders further concrete information about Corvenia's commercial development ahead of the planned transaction. It shows how the platform can be used in an acquisition-driven industrial group and how the business model can grow as more companies are connected. This is relevant as shareholders evaluate the business that is intended to become the main business of the combined company," says Ace St. Germain, CEO of Beyond Frames Entertainment AB.
"Demano is a good example of the type of acquisition-driven group Corvenia is built for. When a group grows through recurring acquisitions, the time from completed transaction to full control of the new company becomes important. Our platform is built to connect new businesses quickly without existing systems having to be replaced, and it can grow with the customer," says Bård Myrstad, CEO of Corvenia.
The reverse takeover is still under review and not yet completed.
Corvenia helps group management teams understand the entire group as it changes. The company's AI platform collects financial data from the group's existing business systems and automates consolidation and reporting, even when the companies use different systems. This gives management a shared and reliable view of the business, where key metrics can be traced down to individual transactions. In this way, management can see what is changing, understand why and make better decisions - without the companies having to replace their finance systems. Corvenia is headquartered in Stockholm and has an office in Oslo. Read more at corvenia.com.
Beyond Frames Entertainment AB (publ) is listed on Spotlight Stock Market under the ticker BEYOND. The Company is exploring the possibility of establishing a new principal business through a reverse acquisition, while retaining its listing. If an agreement regarding a reverse acquisition is entered into, a continued review of Beyond Frames' existing operations will be carried out.