The board of directors of the largest shareholder in 24SevenOffice Scandinavia AB (247), R-Venture AS, has a long term strategy of getting even more solid and international powerful investors with industry knowledge and network in 24SevenOffice Scandinavia AB. R-Venture AS has hence agreed to sell 3 million shares for a total of SEK 96 million, equivalent toSEK 32 per share, to a New York-based long term investor, who becomes a 4.98% shareholder of 247. R-Venture AS has also taken the opportunity to acquire 650,000 shares at a price of SEK 19.5 million, equivalent to SEK 30 per share, from certain shareholders, and will after the transactions own 50.01% directly and indirectly of the shares in 24SevenOffice Scandinavia AB.

R-Venture will use the net proceeds to acquire appx 10% of its own shares from financial owners in R-Venture AS. As the original founders maintain their direct ownership in R-Venture AS, they will consequently increase their indirect pro rata ownership in 24SevenOffice Scandinavia AB.

This information is such information as 24SevenOffice is obliged to disclose under the EU Market Abuse Regulation 596/2014. The information was provided by the contact person below for publication at the point in time specified by 24SevenOffice’s news distributer Cision at the publication of this press release. For further information, please contact the person set out below.

For more information please contact:

Ståle Risa, CEO

Tel: +46 70-023 63 03, str@24sevenoffice.com

24SevenOffice in brief

24SevenOffice delivers business systems to small and medium-sized companies in the Nordic region via cloud-based solutions. The system is currently used by 54,500 companies in the Nordic region, with PwC and KPMG, among others, as accounting partners. The business system is module-based, where the modules are provided independently or packaged as complete solutions. 24SevenOffice's goal is to become a leading SaaS ERP player  in the Nordic region. For more information see www.24sevenoffice.com