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    ELOP   NO0010864036

ELOP AS

(ELOP)
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Elop AS: Simplifai enters license partnership with Crayon, giving Simplifai access to a broad list of customers

06/18/2021 | 02:56am EDT
June 15th, 2021 - Elop's AI business unit Simplifai has entered into a strategic
partnership agreement with the license specialists company Crayon AS.
 
Crayon is headquartered in Oslo, Norway, and with more than 2000 employees in
over 50 offices in 35 countries, they operate a global, customer-first, and
vendor-agnostic IT consultancy.

As part of the agreement, Crayon will include Simplifai's AI-driven systems in
its offering to support public and private sector clients in facilitating
automatic receipt and management of e-mails and user or customer enquiries,
including documents that needs to be managed. 

"We are very happy to get Simplifais solutions easily available for our
customers in both private and public sector. We already have about 70% of
Norwegian Public Sector, and thru this partnership Simplifai gets access to this
market." says Michael Larsen, Sales Manager at Crayon.

Public sector growth strategy

Entering into the agreement with Crayon is a part of Simplifai's strategy to
grow revenues from public sector.
In February, Simplifai signed a breakthrough agreement in public sector with
National Archives Services of Norway which has generated several requests from
Norwegian municipalities.
 
"Documentation requirements in the public sector are strict, and the volume of
correspondence and documents that are exchanged between municipalities and its
"customers" - their local population - is almost incomprehensibly high. Hence,
Simplifai's AI-driven technologies, which help our clients to automate these
processes, could play an important role in modernising the public sector and
free up public servants' time," says Bård Myrstad. 

ENDS

For further information, please contact:

Media
Bård Myrstad, VP Simplifai, tel: +47 415 03 263
Øivind Horpestad, Executive Chairman of Elop, tel: +47 910 00 626

Investors
Kim Boman, CFO of Elop, tel: +47 959 63 912

About Elop AS

Elop is a Norwegian technology company that has developed tools and digital
solutions to inspect, monitor and manage infrastructure worldwide. The company's
technology portfolio includes a patented ultrasound technology for inspection
and analysis of critical infrastructure. Through data-driven and AI-based
solutions for inspection and predictive maintenance of concrete infrastructure,
Elop's vision is to provide asset owners with solutions that improve safety,
extend asset lifetime, minimise total lifecycle cost and environmental
footprint. Elop is headquartered in Norway. For more information: www.elop.no  

About Simplifai

Simplifai is Elop's AI business unit. It supports Elop with developing
data-driven and AI-based solutions for inspection and monitoring of critical
infrastructure. Simplifai operates as a stand-alone business where it develops
automation solutions using artificial intelligence to help clients across
numerous industry sectors to grow effeciently. For example, Simplifai's Digital
Employee solutions can automate labour intensive work process where natural
language communication including email, chat or documents are central. This
includes customer relations, case handling, HR and accounting. Simplifai was
acquired by Elop in January 2021. For more information: www.simplifai.ai

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

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Financials
Sales 2021 6,68 M 0,76 M 0,76 M
Net income 2021 -60,8 M -6,96 M -6,96 M
Net cash 2021 265 M 30,3 M 30,3 M
P/E ratio 2021 -6,81x
Yield 2021 -
Capitalization 444 M 50,7 M 50,8 M
EV / Sales 2021 26,8x
EV / Sales 2022 4,37x
Nbr of Employees 108
Free-Float 43,4%
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Elop AS Technical Analysis Chart | ELOP | NO0010864036 | MarketScreener
Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 1
Last Close Price 4,70 
Average target price
Spread / Average Target -
EPS Revisions
Managers and Directors
Kjersti Kanne Chief Executive Officer
Kristian Gjertsen Lundkvist Director
Lars Nilsen Director
Erik Langaker Director
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