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Mintra expands maritime and technology offering to drive strong growth ambitions

18 / 02 / 2021

Bergen, Norway - 18 February 2021: Mintra Holding (OSE:MNTR) - a leading provider of digital learning and Human Capital Management systems for safety-critical industries - today announced it has acquired the maritime digital learning and crew competence management specialists, Safebridge, for a total consideration of EUR 5.95 million. The acquisition significantly accelerates Mintra's growth in the global maritime sector and its strategy to rapidly increase its market share.

The acquisition will immediately double Mintra's maritime eLearning portfolio with the addition of more than 50 technical and compliance titles. It also increases the company's operational capabilities and combines an impressive suite of crew management and certification technologies to give Mintra an integrated, unique and market-leading position.

The move follows Mintra's acquisitions of OCS HR in 2016 and Atlas Knowledge in 2018. It will result in the addition of 500 new customers and 200,000 users, which will see Mintra servicing over 4,000 customer accounts and 2 million system users worldwide.

Scott Kerr, CEO of Mintra, comments:

"This is a significant move for Mintra in the maritime space, and substantially boosts this revenue line. At a time of travel restrictions and physical distancing, it is important that we continue to expand our online services to support our customers operating around the world.

"As one of our existing partners in our online marketplace, the Safebridge course portfolio is hosted on Mintra's learning and competence system, so can be made instantly available to our customers. Conversely, we will make the full Mintra course library available to customers from Safebridge.

"Safebridge has a strong reputation in the market, with an excellent team and products, and a loyal customer base. In welcoming Safebridge to the Mintra family, we increase our capabilities in maritime and create an opportunity to share this specialist knowledge and expertise with our wider customer base."

Martin Scott, Chairman of Mintra, comments:

"We are very pleased with the delivery of the first acquisition post-IPO. The management team and board are committed to accelerating growth through M&A, where the company has an excellent track record."

Ralph Becker-Heins, CEO of Safebridge, comments:

"Today marks the beginning of an exciting new chapter for Safebridge; one where we can share, combine and accelerate our mission to grow with the Mintra team.

"Not only does this acquisition allow us to provide a greatly expanded offering for Safebridge customers, it provides an exciting opportunity for the Safebridge team to be part of Mintra's and support the development of a market-leading business."

The Safebridge offering includes:

o Revenues in excess of 3.5 million Euros o 50 maritime eLearning courses o 3 Proprietary Management Systems o 'SafeMetrix' - Psychometric Assessment o 'SafeLearn' - LMS o 'myCert' - Digital Certification o 20+ years industry experience o Offices in Hamburg and Cyprus o 500 maritime customers - top 5 geographies

o Germany

o Cyprus

o Greece

o Philippines

o Netherlands

200,000 maritime system users - top 5 geographies

o Philippines

o India

o Greece

o Germany

o United Kingdom 

300,000 course completions per year

In addition to providing the Safebridge maritime course library through its learning and competence management system, Trainingportal, Mintra will integrate functionality from Safebridge's own compliance and certification products -

SafeMetrix and myCert - to enhance the overall customer offering.

Mintra's experience has shown that today's ship managers and maritime HR professionals desire greater choice and flexibility from their training and systems providers. With the addition of Safebridge, Mintra is ideally positioned as a strong competitor in the market - a modern alternative, ready and able to meet this rising demand.

The combined company can offer a unique single-source solution - training, competency, and crew management - that allows their customers to effectively develop and deploy their people worldwide.

Ends

Picture caption: Scott Kerr, CEO Mintra For further information, please contact:

Scott Kerr CEO

scott.kerr@mintra.com

+47 99 28 38 90

About Mintra:

Mintra develops and deploys software solutions that enable its clients to develop and deploy their people, readily demonstrate compliance, and maximize operational efficiency.

Mintra serves the training, HR, payroll, and workforce management needs of organisations operating in the maritime and energy sectors. Trainingportal - a learning and competency management system - provides an online portfolio of over 1,400 eLearning courses to over 1.7 million workers. OCS HR crew management system supports the operations of more than 1,800 vessels worldwide. Mintra is headquartered in Bergen and has offices in Oslo, Stavanger, Aberdeen, Dubai, Amsterdam, Hyderabad, Cyprus, and Singapore.

For further information, visit mintra.com

About Safebridge:

Safebridge was founded in 1998 with a focus on physical classroom training but pivoted to digital learning in 2009.

Safebridge is today focused on eLearning solutions and digital competence management systems towards about 500 B2B clients in the maritime industry and 200,000 individual customers.

Safebridge is offering three main products:

o SafeLearn - LMS and 50 eLearning courses specializing in mandatory ECDIS training, (Electronic Chart Display & Information Systems) course for which it is a leading supplier o SafeMetrix - psychometric and technical assessments o myCert - System for digital certificates.

eLearning products constitute close to 90 percent of revenues.

Safebridge is headquartered in Hamburg, Germany, but with most employees and operations in its Cyprus subsidiary.

For further information, visit www.safebridge.net

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