Unifiedpost Group continues its strategic focus on growing core digital services with the divestment of 21 Grams

Press Release – Inside Information

La Hulpe, Belgium – 5 July 2024, 7:00 am. CET – Inside Information – Unifiedpost Group SA (Euronext Brussels: UPG) (Unifiedpost, Group), a leading provider of integrated business communications, today announced it has signed an agreement with PostNord Strålfors AB (“PostNord Strålfors”) for the sale of all shares in the 21 Grams Group (“21 Grams”) for a purchase price based on an enterprise value (on a cash and debt-free basis) of SEK 200 million, subject to certain potential adjustments based on the financial position of 21 Grams at completion of the sale. The agreement also includes an exclusive partnership to distribute Banqup and B2B digital products to PostNord Strålfors’ customer network.

[INSIDE INFORMATION] Key highlights

• The sale aligns with Unifiedpost’s continued strategic focus on growing core digital services, divesting non-core businesses, and strengthening the balance sheet.
• The exclusive strategic partnership will grow Unifiedpost’s core digital services, collaborating with PostNord Strålfors to leverage PostNord Strålfors extensive network in the Nordic region (Sweden, Norway, Denmark, and Finland).
  • Banqup agreement: PostNord Strålfors will exclusively commercialise Banqup for a minimum of 5 years in the Nordic countries to the SME market.
  • EU roaming agreement: PostNord Strålfors will utilise Unifiedpost’s Banqup platform for corporate clients that want to deliver e-invoices outside the Nordics, and Unifiedpost will use PostNord Strålfors network for delivering their customer’s transactions in the Nordics.   

Commenting on the announcement, Hans Leybaert, CEO and founder of Unifiedpost, stated: “We remain focused on our strategy of growing core digital services and divesting non-core traditional services. We continue to take a systematic approach and are pleased that we have reached an agreement to sell 21 Grams. I want to thank our employees in the Nordics for their contribution to our company over the years. We also remain committed to transforming portfolio rationalisation into mutually beneficial partnerships. By combining our digital expertise with PostNord Strålfors’ extensive network, we are well-positioned to drive innovation and deliver value to our customers in the Nordic market.“

Lisbet Karlsson, acting CEO of PostNord Strålfors Group, added: “PostNord Strålfors is a full-service provider in the customer communication market delivering distribution and software services to the leading companies in the Nordics. With the acquisition of 21 Grams and the strategic partnership with Unifiedpost, we can offer our joint customers a significantly wider offering with a Nordic reach.”

Transaction details

Unifiedpost has signed an agreement to sell 21 Grams to PostNord Strålfors and formed a partnership. PostNord Strålfors will exclusively distribute Banqup in the Nordic countries for at least 5 years and use Unifiedpost’s e-invoicing connections. The partnership also enables PostNord Strålfors’ corporate customers to send e-invoices outside the Nordics easily. This interconnected approach ensures a broader coverage and more efficient service for clients across the Nordic region.

To strengthen the collaboration and ensure common strategic goals, both parties have committed to investing €1,5 million each to bring the Banqup platform to market. The agreement also requires each party to make an annual reinvestment equivalent to at least 10% of the partnership’s annual net revenue to strengthen the distribution channel and customer support services.

21 Grams generated total revenue of €83,2 million in 2023 with a gross margin of 15,5% (of which the digital services revenue was €28,5 million (mainly B2C) with a gross margin of 21,1%). As of 31 December 2023, the 21 Grams Group employed 89 full-time equivalents in Sweden, Norway and Denmark.

The transaction’s completion is subject to (i) approval from the relevant competition authorities, (ii) FDI approval and (iii) certain additional relevant closing conditions. The transaction is expected to close in the second half of 2024.

Contacts

About Unifiedpost Group

Unifiedpost is a leading cloud-based platform for SME business services built on “Documents”, “Identity” and “Payments”. Unifiedpost operates and develops a 100% cloud-based platform for administrative and financial services that allows real-time and seamless connections between Unifiedpost’s customers, their suppliers, their customers, and other parties along the financial value chain. With its one-stop-shop solutions, Unifiedpost’s mission is to make administrative and financial processes simple and smart for its customers. For more information about Unifiedpost Group and its offerings, please visit our website: Unifiedpost Group | Global leaders in digital solutions

Noteworthy facts and figures:

• Established in 2001, with a proven track record
• 2023 group revenue €191 million 
• 1.200+ employees 
• Offices in 33 countries
• Diverse portfolio of clients across a wide variety of industries (banking, leasing, utilities, media, telecommunications, travel, social security service providers, public organisations, etc.) ranging from large internationals to SMEs
• Unifiedpost Payments, a fully owned subsidiary, is recognised as a payment institution by the National Bank of Belgium
• Certified Swift partner
• International M&A track record
• Listed on the regulated market of Euronext Brussels, symbol: UPG

About PostNord Strålfors

PostNord Strålfors simplifies the communication of invoices and vital business information between companies and their customers and partners. Our omnichannel solution enables companies and organisations to engage with customers, citizens and members through their preferred channels, while our integration solutions automate business processes.

PostNord Strålfors is a leading actor in customer communication management and a critical part of the Nordic communication infrastructure. It handles over 1 billion transactions annually and generates SEK 2.2 billion in turnover (2023). PostNord Strålfors operates in Sweden, Norway, Denmark and Finland and is part of the PostNord Group, a leading provider of communication and logistics services in the Nordic region. For more information, go to PostNord Strålfors (stralfors.com)

Cautionary note regarding forward-looking statements: The statements contained herein may include prospects, statements of future expectations, opinions, and other forward-looking statements in relation to the expected future performance of Unifiedpost Group and the markets in which it is active. Such forward-looking statements are based on management’s current views and assumptions regarding future events. By nature, they involve known and unknown risks, uncertainties, and other factors that appear justified at the time at which they are made but may not turn out to be accurate. Actual results, performance or events may, therefore, differ materially from those expressed or implied in such forward-looking statements. Except as required by applicable law, Unifiedpost Group does not undertake any obligation to update, clarify or correct any forward-looking statements contained in this press release in light of new information, future events or otherwise and disclaims any liability in respect hereto. The reader is cautioned not to place undue reliance on forward-looking statements.

Attachment

• Press release – 21 Grams – FINAL