Mercell uplisted to the Oslo Stock Exchange

- This is an important milestone that builds on the positive momentum generated by our tremendous growth journey over the last couple of years, says CEO of Mercell, Terje Wibe.

- This is an important milestone that builds on the positive momentum generated by our tremendous growth journey over the last couple of years, says CEO of Mercell, Terje Wibe.

Mercell Holding AS today announces that it will become a publicly listed company on the main list of the Oslo Stock Exchange (OSE). Mercell was admitted to the Euronext Growth trading platform in Oslo on exactly the same date in 2020, and is now successfully uplisted.

- We have established a unique market position, becoming one of the largest B2B SaaS companies in the Nordic region, and we have established a solid foothold in Continental Europe, says Terje Wibe.

- Today Mercell services approximately 30,000 customers. We believe there is high value yet to be captured in our existing markets, and we see the potential to more than double ARR in these markets over the next five years.

During the last couple of years, Mercell have conducted 12 acquisitions and has a total annual recurring revenue (ARR) of approximately NOK 750 million, corresponding to a seven-fold increase in revenues in the same period. Mercell is today the market leader on the digital arena for public tendering in the Nordics. The uplisting is expected to further increase visibility in the marketplace, improve liquidity and broaden the shareholder base, ultimately enhance value for all stakeholders.

At the core of Mercell’s business lies a highly scalable SaaS business model and digitalization of the procurement processes. The company kickstarted its European growth journey with the acquisition of Negometrix in the Netherlands in February, and has also gained a foothold in the US. Mercell’s vision is to become the preferred e-tendering and procurement platform in Europe.

Chair of the Board, Joar Welde, comments:
- This is a proud moment for the Board as a collegium. It is also a proud moment for Viking Venture in particular as we have been a lead investor in Mercell since 2018. In addition to increasing Mercell’s visibility in the marketplace, the Board anticipates this uplisting to improve the liquidity of the Mercell stock, broaden the institutional shareholder base and ultimately enhance long-term value for multiple stakeholders.

 

For additional information:

Terje Wibe, CEO - tw@mercell.com - +47 90 83 79 98

Fredrik Eeg, CFO - fredrik.eeg@mercell.com - +47 90 83 33 78

Joar Welde, Chair - joar.welde@vikingventure.com - +47 98 20 69 30

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