Cegal Group AS, majority owned by Norvestor V, L.P., has signed an agreement to acquire all the shares in Avito Consulting AS, a subsidiary of Avito AS.

Avito Consulting delivers strategic consultancy services that adds execution strength to projects, with a primary focus on IT projects in the energy industry. Cegal will continue the collaboration with the remaining business in the Avito Group. All employees in Avito Consulting will be integrated into the Cegal organization.

Avito Consulting's skilled staff has expertise within the energy industry that will supplement and add value to Cegal's unique combination of IT and geoscience expertise, complementing Cegal’s offering throughout the whole value chain. The combination of the two companies will represent increased power to combine technical expertise with business and domain advisory as an embedded part of deliveries that customers will benefit from.

Part of Avito Consulting's expertise is related to other industries than oil and gas, and the growth strategy set out by Avito Consulting will be continued in Cegal. Experience from the public sector, the health industry and other sectors are valuable contributions to Cegal, even though the main focus of the Company will remain within oil and gas.

In June OKEA announced the acquisition of a portion of A/S Norske Shell's interests on the Norwegian Continental Shelf, including the operatorship of the Draugen field. Cegal has provided OKEA with assistance to transfer the Draugen field to OKEA in less than six months. Avito Consulting provided instrumental resources to Cegal on the OKEA project, enabling the efficient delivery of the project.

"During 2018 we have seen a major consolidation of players in the oil and gas industry, in addition to a number of large asset transactions, like the OKEA transaction of assets from A/S Norske Shell. Due to the digitalization journey in the oil and gas industry, these processes are closely linked to the offerings from companies like Avito Consulting and Cegal. It makes perfect sense to join forces to be a bigger player in these large projects", explains Svein Torgersen, CEO in Cegal.

The sales of the subsidiary Avito Consulting AS enables the Avito group to deliver their growth ambitions in relation to digitalization, focusing on digital platform and facilitating efficient processes, hereunder increase focus on development of the software XpertBI in the subsidiary BI Builders AS.

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