Progresso AS becomes part of ECIT. Company announcement No. 127

ECIT AS hereby announce that the Norwegian finance & accounting company Progresso AS has become a part of ECIT.

- Progresso is a very good addition to our existing location in Florø and will serve ECIT to 
get a stronger footprint within the fish-farming industry. We are pleased to welcome  customers and employees of Progresso to ECIT, says Peter Lauring, CEO in ECIT.

ECIT is acquiring 60 % of the shares in Progresso Invest AS who owns 100 % of the shares in Progresso AS. ECIT has an option to acquire all remaining shares in the company. The 
acquisition has been settled partly with cash, and partly with treasury shares. ECIT AS 
stock of treasury shares is 2,703,228 after the transaction.

About Progresso AS

Progresso AS, located in Florø, Norway, provides services within accounting, payroll and 
advisory. Progresso AS serves small as well as medium and large customers, and is 
specialized in services aimed to serve the fish-farming industry. Progresso AS has 10 
employees and a revenue of 17.3 MNOK in 2021. Read more on https://www.progresso.as

For further information please contact:

Iselin Paulsen, Head of Communication
Iselin.paulsen@ecit.com
+47 901 40 166 

Mads Skovgaard, Group CFO
mskovgaard@ecit.com
+45 2780 4942

About ECIT

Founded in 2013, ECIT supports a large customer base with accounting, payroll, and a broad range of IT services. ECIT has a proven model for acquisition and integration, ensuring proximity to customers and local entrepreneurship combined with the strength of a larger international group. ECIT has a proforma revenue (2021) of 2.6 billion NOK and +2,300 employees across 10 countries. M&A has been a key driver of the Company's growth and ECIT has completed more than 130 acquisitions since 2013. Read more at www.ecit.com