Reference is made to the stock exchange notice by Elop AS on 21 December 2020
regarding the share purchase agreement entered into by Elop to acquire 100
percent of the shares in the Norwegian artificial intelligence company Simplifai
AS. 

The Company is pleased to announce that the acquisition has successfully been
completed. Through partnering with Simplifai AS, Elop obtains technological and
commercial capabilities that will enable Elop to move faster towards a
commercially viable data driven, cloud-based software as a service business
model for monitoring and optimised maintenance of critical infrastructure.

Pareto Securities AS acted as financial advisor and Wikborg Rein Advokatfirma AS
acted as legal advisor to Elop in connection with the acquisition.

For further information, please contact:

Media
Kjersti Kanne, CEO of ELOP AS, tel: +47 480 31 075

Investors
Øivind Horpestad, chairman of ELOP AS, tel: +47 910 00 626
Torbjørn Blom-Hagen, CFO of ELOP AS, tel: +47 926 48 847

About ELOP
ELOP AS is a Norwegian technology company. ELOP has developed and patented an
ultrasound technology for inspection and analysis of critical infrastructure.
The company develops and commercialise tools and digital solutions to inspect,
monitor and manage infrastructure worldwide. ELOP's vision is to provide asset
owners with smart solutions that improve safety, extend asset lifetime, minimise
total lifecycle cost and environmental footprint. ELOP is located in Oslo and in
Hamar, Norway.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange