EQT Mid Market acquires StormGeo, a global provider of weather-based decision support services

(DGAP-Media / 27.03.2014 / 08:00)

Press Release                                                March 27, 2014

EQT Mid Market acquires StormGeo, a global provider of weather-based
decision support services

- EQT Mid Market acquires majority in StormGeo, a leading global provider
of software-based decision support for weather sensitive operations at
sea

- Strategy is to support StormGeo's continued growth and focus further on
the offshore Oil&Gas and maritime industries as well as investments in
next generation products and services

- As part of the transaction, EQT Mid Market will enter into a
partnership with DNV GL, management and employee shareholders, who will
remain significant minority shareholders

The EQT Mid Market fund ("EQT Mid Market") has agreed to acquire 57.5% of
the outstanding shares in StormGeo Holding AS ("StormGeo" or the "Company")
from Reiten & Co, a Norwegian private equity firm, and TV2. DNV GL, the
world's largest ship and offshore classification society, management and
employee shareholders, will partner with and invest alongside EQT Mid
Market to continue to grow and develop the Company.

"We are pleased to have EQT Mid Market as a new majority investor in the
Company. EQT's international standing and experience with global expansion,
licensed based business models, both the offshore and the software sector
and their extensive global network of Industrial Advisors will help support
our continued growth internationally," said Kent Zehetner, CEO of StormGeo.

StormGeo was established in Bergen, Norway, in 1997 as a spin-off from TV2.
The Company pioneered weather centric services for the growing offshore
Oil&Gas industry and through consistent organic and acquisitive growth
StormGeo has developed to become a leading global provider of
weather-based, software-enabled decision support for operations at sea.
Today, the Company has a global reach with 22 offices in 14 countries and
more than 320 employees.

Weather is the most frequent cause of business disruption - StormGeo's
services help, among others, rig and vessel operators manage risk, improve
planning and reduce down-time and thereby improve operational efficiency
while also reducing fuel consumption and increasing onboard safety. The
market for weather-based decision support is growing driven by several
strong underlying megatrends including climate change and more extreme
weather, technology development enabling more advanced products, health,