OSLO, 9 November 2017 - Induct AS has extended the contract with Statoil ASA

Reference is made to the announcement on 5 April 2017 on a contract made with
Statoil innovation department, which covered an initial pilot project.

Based on a successful completion of the pilot, and a high degree of
satisfaction, Statoil will company-wide roll out the Induct platform. The ARR
(annual recurring revenue) of the current contract is NOK 540,000. The contract
also includes commercial terms for potentially deploying the Induct platform for
supporting additional business processes and areas within Statoil.

"We are extremely pleased with the pilot project within Statoil, as it has
demonstrated significant value so that we could enter into a permanent
agreement. We are looking forward to the global roll out, and include additional
business areas into the Induct platform", says CEO Alf Martin Johansen in
Induct.

This is a contract in the vertical Enterprises, which is one of the five
verticals Induct focuses on (Health, Municipalities/cities, Enterprises,
Education and Humanitarian sector).

Kilde: http://www.newsweb.no/newsweb/search.do?messageId=438297

Hegnar har også skrevet noe om saken her: http://www.hegnar.no/Nyheter/Boers-finans/2017/11/Statoil-forlenger-med-Induct