ABGSC acted as exclusive financial advisor to EVRY ASA (“EVRY”) in the divestment of its case management and archiving services unit

EVRY has entered into an agreement with Karbon Invest AS (“Karbon”) for the sale of its unit for case management and archiving services for the public sector. Karbon is an investment company owned by Jens Rugseth and Rune Syversen.
A new company SIKRI AS (“SIKRI”) has been established as a carve out from EVRY. SIKRI will have over 100 employees and is expected to generate revenue of around NOK 150 million in 2019. The unit has achieved satisfactory profitability for a number of years, and it has an attractive position in the market for case management and archiving services.
The divestment was a remedy offered to the competition authorities in Norway to approve the Tieto/EVRY merger. A definitive transaction agreement was signed 10 days after execution of an NDA.