Brief: Pexip To Acquire Videonor's Base Of Enterprise Customers

Pexip Holding ASA

06/07/2020 07:06

July 6 (Reuters) - Pexip Holding ASA  PEXIP.OL :
    * PEXIP TO ACQUIRE VIDEONOR'S BASE OF ENTERPRISE CUSTOMERS
    * PEXIP TO ACQUIRE VIDEONOR'S BASE OF ENTERPRISE CUSTOMERS
    * PEXIP HOLDING ASA - PEXIP WILL TAKE OVER OWNERSHIP AND
MANAGEMENT OF VIDEONOR'S PORTFOLIO OF ENTERPRISE CUSTOMERS
    * PEXIP HOLDING ASA - AGREEMENT IS EXPECTED TO GIVE PEXIP AN
INCREASE IN ANNUAL RECURRING REVENUE (ARR) OF BETWEEN 2 AND 3
MILLION USD AFTER COMPLETION OF MIGRATION
    * PEXIP HOLDING ASA - AGREEMENT WILL COME INTO EFFECT FROM
6TH
JULY 2020 AND MIGRATION OF CUSTOMERS IS EXPECTED TO TAKE 6 - 12
MONTHS
    * PEXIP HOLDING ASA - VIDEONOR'S COMPENSATION WILL BE BASED
ON
AMOUNT OF INCOME AND CUSTOMER LOYALTY TRANSFERRED TO PEXIP OVER
NEXT TWO YEARS
    * PEXIP HOLDING ASA - NO FURTHER DETAILS OF AGREEMENT WILL
BE
PROVIDED

Source text for Eikon:  ID:nObihgrKGa 
Further company coverage:  PEXIP.OL 

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