Inform P Lykos S A : signed an agreement for the acquisition of a majority stake in CLOUDFIN

INFORM P. LYKOS HOLDINGS S.A.

signed an agreement for the acquisition of a majority stake in CLOUDFIN

INFORM P. LYKOS HOLDINGS S.A. (INFORM) on the 10th of February, 2021, signed an agreement for the majority stake acquisition of 56.5% of the share capital and as such the acquisition of control of the Cypriot company CLOUDFIN LTD, for 1 million euros.

With this investment, INFORM expands the range of services provided to its existing customers and the ability to reach new ones, providing the management, automatic identification and registration services (Process Automation) of all document types as well as other documents (purchase documents, expenses, contracts, etc.) using Machine Learning (ML) and interface with ERP systems. In addition, through this investment, INFORM will provide Document Management services, including electronic archiving, as well as document recognition products for Know Your Customer / Business (KYC / KYB) processes, with control authentication and data extraction from identification documents (IDs, passports, driving licenses), tax, corporate and utility documents.

The services as mentioned above are fully connected and complementary to the INFORM Group's existing activities in terms of automation of all business processes in collaboration with the solutions Digital Onboarding, digitization and document storage, Robotic Process Automation and Intelligent Chatbot Journeys.

CLOUDFIN has been active in Greece and Cyprus's markets for the last (3) years with continuous business development and is a recognized service provider in the sector in which it operates. Among its main customers, PwC, Mazars and WTS are mentioned from the field of Auditing and Outsourcing, as well as many other large companies such as the PHC Franchised Restaurants Public Ltd group (Pizza Hut, Burger King, KFC, TACO BELL, Wagamama etc.), Shipping Neptune Shipping Agencies, HotelBrain and other Private sector companies.

The existing management and the specialized executive team of CLOUDFIN will remain, in order together with the team of INFORM to continue the successful course of the company, as well as the further development in new activities markets.

Koropi, 10/02/2021

About INFORM

INFORM (LYK.ATH) was founded in 1897, it has been listed on the Athens Stock Exchange since 1994 and provides products and services for secure document and information management, innovating in digital transformation of businesses and organizations for providing highly specialized solutions. It employs 520 workers, with 4 production plants in Greece, Romania and Albania and has a leading position in the markets of Central and Eastern Europe in the Public and Private Sector.

INFORM is a member of AUSTRIACARD HOLDINGS, an Austrian group of high-tech IT in Hardware Embedded Security, which employs 1.300 people and has an international presence in three Divisions, AUSTRIACARD, INFORM and NAUTILUS, in the fields of Digital Security, Information Management and IoT respectively, with a total turnover of € 135 million in 2019. The Group AUSTRIACARD HOLDINGS has a very strong European business footprint, from the United Kingdom to Greece and Turkey, with six production facilities and eight personalization centers in Europe, as well as two additional personalization centers in South America and the USA , which allow to serve its customers, wherever they are, in the best possible way.

For more Information, visit the sitewww.informlykos.com