Mercell acquires Negometrix in the Netherlands and expands its footprint in the
European e-procurement market

Oslo, 10 February 2021 - Mercell Holding AS ("Mercell" or the "Company") has
signed a binding agreement to acquire 100% of the shares of the leading Dutch
e-procurement company Negometrix B.V. for EUR 27 million on a cash- and
debt-free basis. Mercell has carried out a private placement raising gross
proceeds of approximately NOK 434 million, of which parts will be used to
finance the acquisition.

Negometrix is the largest private provider of e-procurement software solutions
in the Netherlands, with an established foothold in the emerging US market, and
an integrated technology hub in Bulgaria. In 2020, Negometrix had revenues of
approximately EUR 6 million, of which close to 90% was recurring revenue. The
parties expect to complete the transaction during February 2021.

Negometrix' market leading position in the buy-side pre-award market in the
Netherlands offers a unique opportunity to expand the offering into the supply
side and post-award segments by leveraging Mercell's broad product portfolio.

"This is another important step towards realizing our strategic ambition to
build a leading position in the European e-tendering and e-procurement market.
The acquisition also opens the door to the potentially attractive US market. We
gain access to a highly competent development team in Bulgaria which will add to
our technology capabilities going forward. At the same time, we see
opportunities to expand Negometrix' addressable market with our solutions for
suppliers and for the post-award market", says CEO Terje Wibe in Mercell.

Focusing on the buy-side of the market, Negometrix has developed a very strong
position in the Netherlands, with its e-procurement solutions being used in
approximately 33% of tenders in the public sector. This makes the company by far
the largest competitor to the publicly owned and operated TenderNed portal.
Negometrix also launched US operations in 2018, with founder Jan Siderius
heading the New York office. 

Negometrix CEO Sander de Vocht and founder Jan Siderius are both fully committed
to the transaction and will continue in their current positions.

"Mercell is in position to take the role as a European consolidator, and we are
enthusiastic about becoming a part of this project. We look forward to joining
forces with our new colleagues in Mercell to further develop the most
user-friendly solutions on the market. We believe in Mercell's ambitions to
become the European market leader and the potential of our position in the US
market", says CEO Sander de Vocht in Negometrix. 

"We acquire a solid business developed over the last 20 years and one of the
most well-known European players in our industry. Negometrix has a strong
corporate culture and a highly competent and experienced team. We are happy that
Sander and Jan both will continue the growth journey with Mercell", Terje Wibe
adds.

"We're very pleased to make the first major entry into continental Europe.
Negometrix provides a very attractive platform to continue our expansion
strategy as the leading provider of public e-tendering and procurement software
in Europe", says Joar Welde, Partner at Viking Venture and Chairman of the board
at Mercell. 

Negometrix has 80 employees, of which 34 at the headquarters in Utrecht, 33 at
the tech hub in Sofia, Bulgaria, and 13 people in the US. Following the
transaction, Mercell will have approximately 500 employees, and a customer base
of approximately 29,000 customers across 15 countries.

Mercell has grown into a leading European provider of public e-tendering
services over the past years, combining strong organic growth with a string of
acquisitions in the Nordic region. The company's two-sided SaaS platform caters
to both public buyers and suppliers, with software solutions ensuring that
public buyers comply with EU regulations requiring tender announcements on
e-tendering platforms, and that the suppliers are notified of all relevant
tenders. Mercell expanded its offering to e-procurement solutions for both
public and private customers. The acquisition of Negometrix represents a further
step towards the strategic ambition to become the leading provider of public
e-tendering and e-procurement solutions in the large European market. 

For more information please contact:
Terje Wibe, CEO Mercell
Tel: +47 908 37 998
tw@mercell.com

Fredrik Eeg, CFO Mercell
Tel: +47 908 33 378
freg@mercell.com

This information is subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

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