Egreement was acquired by House of Control for $7.5 million.

Egreement, a Gothenburg, Sweden-based contract workflow and digital signature SaaS provider, announced that it was acquired by the Oslo, Norway-based House of Control AS.

The deal was made for SEK 44.45 million ($7.5M), a 3.5 times ARR on a debt-free basis, which will be settled in cash upon closing, in addition to an earn-out element capped at SEK 20 million depending on future financial development. The acquisition significantly strengthens House of Control’s SaaS-offering within contract workflow and digital signature, as it complements its existing solutions.

Egreement, led by CEO Patrick Wilkinson, has annual recurring revenue (ARR) of SEK 12.7 million from more than 300 customers and 1,600 users across all types of industries, mainly in Sweden.

House of Control, led by CEO Lasse Sten, company that develops SAAS solutions that the CFO can easily apply to improve the performance of the finance department and – ultimately – the whole company. The solutions give the clients overview of legal and financial details and liabilities on contracts and assets. House of Control is a publicly-listed company and is owned by investors including Luxor Capital Group, Berenberg Bank, Consensus Asset Management, Handelsbanken Fonder and DNB Asset Management.