Rejlers acquires Embriq and expands within digitalised energy services

Regulatory News:

Rejlers has signed an agreement on 21 October 2015 to acquire 88.52 percent of shares in the Norwegian IT company Embriq AS, including its subsidiaries, from the Hafslund group. The set purchase price came to 78 MNOK, the acquisition was paid in cash and the transfer takes place in conjunction with conclusion.

The acquisition places Rejlers as the premier engineering consultancy company in the Nordic area, with full scale IT services within the rationalisation of infrastructure and energy.

Through the acquisition, Rejlers has nearly 2000 employees who can offer an even wider range of specialised services and complete project control. The acquired company is expected to give a turnover of 60 MNOK during the remainder of 2015 and 240 MNOK in turnover during a 12 month period. Embriq has 120 employees in Norway and Sweden. With the takeover, Rejlers Norge will have an annual turnover of 550 MNOK with nearly 400 employees. Embriq supplies IT operating services to customers across the Nordic area and has the leading expertise in Norway within the development and delivery of the next generation electricity network, Smart Grid.

In addition, Embriq is the leading company in Norway for energy measurement services, a field in which Rejlers is already strong in Sweden and Finland. Together, we create a Nordic platform in this area. Digitalisation of physical infrastructure "Rejlers has a vision of being the smartest engineering consultancy company in the Nordic area. All physical infrastructure in society is being digitalised, and it can therefore be better exploited.

Rejlers is already one of the largest consultancy firms in this field within the Nordic region. Now we also have access to Norway's best and biggest IT environment for the energy sector. This gives Rejlers the opportunity for international consultancy on a completely new scale.

The takeover of Embriq is an important step in the continuing development of our expertise as a leading player within electric power, infrastructure, energy and IT", says Morten Thorkildsen, CEO of Rejlers Norge. Hafslund is delighted that Rejlers is moving Embriq forwards "It is important for Hafslund to have a competitive supplier market and we are very pleased that Rejlers will continue to run Embriq as an advanced supplier to an energy industry that is ever-changing", says Finn Bjørn Ruyter, CEO and President of Hafslund ASA. "We have been the owners for many years and are pleased that Embriq, today, is a highly skilled company that has found success in the marketplace with its competitive solutions. We look forward to continued cooperation with Embriq as a supplier for the coming years.

It feels right to pass on the baton to Rejlers, which has what it takes for Embriq to continue developing in a Nordic and European perspective ", says Ruyter. Strengthened expertise "Hafslund has provided great support for a number of years", says Thomas Pettersen, CEO at Embriq. "We are very pleased that an expert industrial group with a tradition such as Rejlers has taken over. Our expertise is reinforced as a supplier of industry specific IT services within the ongoing digitalisation of physical infrastructure.

It gives huge added value for the further development of our services and also exciting opportunities for our employees and customers," concludes Pettersen. About Embriq Embriq designs, develops and administers IT solutions in the business areas of Consulting, Operations and Software. Embriq is a Norwegian high skills company with 120 employees and an annual turnover of approximately 240 million NOK. Embriq contributes to business profits for its customers through smart selection and strategic use of IT. Embriq delivers services to clients across the Nordic area and is represented in Oslo, Halden, Drammen and Gothenburg.

Rejlers discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act.The information was submitted for publication at 08.00 am on October 22nd 2015.

Rejlers is one of the largest engineering consultancy firms in the Nordic region. Our 2 000 experts work with projects within the areas of Building and property, Energy, Industry and Infrastructure. With us, you will meet specialist engineers with the breadth, cutting edge expertise and not least energy to create the results you want. We are continuing to grow rapidly and our activities are spread across 80 locations in Sweden, Finland and Norway. In 2014, Rejlers had revenue of SEK 1.7 billion and its Class B share is listed on Nasdaq Stockholm.

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