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2020-05-11

Eyeonid Group AB: Eyeonid Group AB (publ) signs letter of intent with Abelco regarding cooperation in Southeast Asia

Eyeonid Group AB (publ) have today signed a letter of intent with
Abelco Investment Group AB (publ) regarding Eyeonid's products and
services for the Southeast Asian markets. The parties' ambition is to
jointly explore possibilities to establish sales- and marketing
presence for Eyeonid in the local markets within the region, where
Abelco holds a strong position resource wise through its' fully owned
Fatfish Group.

Eyeonid Group AB (publ) ("EyeOnID") has entered into a letter of
intent ("LOI") with Abelco Investment Group AB (publ) ("Abelco")
regarding a potential commercial cooperation agreement. The parties'
ambition is to explore potential opportunities and terms for such a
commercial cooperation agreement, where EyeOnID's products and
services combined with Abelco's presence in Southeast Asia marks the
foundation for such discussions.

Abelco is a Swedish investment company that recently acquired Fatfish
Global Ventures ("Fatfish"). Through this acquisition, Abelco holds
principal offices in Stockholm, Kuala Lumpur and Singapore. Both in
terms of number of portfolio companies as well as resource wise,
Abelco holds a strong presence in Southeast Asia.

EyeOnID sees scale-up opportunities internationally, and the Asian
market is interesting for the company's various products and
services. A strong mobile- and internet penetration level combined
with a vast population creates a basis for investigating
possibilities for local presence and sales activities. With the
purpose of shortening sales processes as well as to create the best
conditions for a potential local presence, it is of importance to
EyeOnID to find suitable cooperation partners to evaluate
opportunities to enter into such market in a fast and cost-effective
manner.

"I believe that we are now ready to start investigating expansion into
completely new markets. Naturally, one must be humble in view of how
long things might take as well as cultural differences and other
local market conditions. I view that the Asian market is maturing
with regards to EyeOnID's offering, which is interesting. With the
technology- and process structure we now have built, I believe that
we are ready to enter into new markets with the right partners.
Through Abelco, and its' extensive network as well as local resources
within the Southeast Asian market, I hope and aim to find common
grounds for a commercial cooperation going forward." says Patrik
Ugander, CEO Eyeonid Group AB (publ)

For further information, please contact:

Patrik Ugander, CEO Eyeonid Group AB

Phone: +46 70-544 01 68

E-mail: patrik.ugander@eyeonid.com
Henrik Sundewall, Chairman of the board Eyeonid Group AB

Phone: +46 76-877 00 00

E-mail: henrik.sundewall@eyeonid.com

Also view: www.eyeonid.com

Eyeonid Group AB (publ) was founded in 2015 and is a SaaS provider who
through their self-developed technology for collection, analysis and
packaging of data, develop and sell smart solutions that makes life
on internet simpler and more secure for people, corporations and
organizations. Through end to end solutions that are supplemented
with insurances, payment solutions and assistance as well as sales
and marketing support for industries such as Bank, insurance, Telecom
and Retail, EyeOnID solutions create new business opportunities for
its customers.

This information is information that Eyeonid Group AB (publ) is
obliged to disclose under the EU Market Abuse Regulation. The
information was provided, through the contact of the above contact
person, for publication on May 11th, 2020, at 08.01 CET.

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https://news.cision.com/se/eyeonid-group-ab/r/eyeonid-group-ab--publ--si...
https://mb.cision.com/Main/14860/3108425/1245346.pdf

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