2CRSi SA: Update on Blade's situation.

Press release

Update on Blade's situation

• Bid by Octave and Miroslaw Klaba, through the company hubiC, accepted by the Paris Commercial Court
• Sale of the property rights on part of the equipment used by Blade for an amount of €10.5 million
• Recovery of equipment from contracts started in 2020

Strasbourg (France), 3 May 2021 - 2CRSi (ticker: 2CRSI, ISIN: FR0013341781), a designer and manufacturer of high-performance, energy-efficient IT servers, shares the latest developments on Blade's situation.

In its decision dated April 30, 2021, the Paris Commercial Court designated hubiC, chaired by OVHcloud founder Octave Klaba, as the buyer of Blade SAS activities.

2CRSi, a long-time partner of OVHcloud, entered into an agreement with hubiC prior to this decision. As part of this agreement, the two companies agreed that:

• 2CRSi sells hubiC its rights to the hardware provided to Blade SAS or Blade Global Corp under all contracts prior to December 31, 2019 in return for a cash payment of €10.5 million (excl. VAT). This amount is in line with the Group's expectations,
• hubiC is committed to facilitating the return of the remaining equipment from the 2020 contracts, most of which is located in the United States. For information, the historical order value of the equipment to be returned is $19.5 million (approximately €16.2 million).

In the current context of a global shortage of electronic components, the 2CRSi Group is already in discussion with several customers interested in acquiring this equipment as soon as it becomes available.

"For 2CRSi, the end of the Blade adventure marks the end of a chapter in which we have invested a lot of time and effort. We would like to thank Blade's teams who, since 2017, have trusted us to develop for them an infrastructure worthy of internet giants, allowing us to demonstrate our know-how. We are delighted that hubiC has taken over Blade's business. From the beginning, we believed in the global technological advance that Shadow's cloud computing system represented. This innovation will now allow hubiC to build a new European office suite in the cloud " says Alain Wilmouth, co-founder and president of 2CRSi, delighted.

Next event: fiscal year 2020/2021 annual results on May 31, 2021, after trading.

- END -

About 2CRSi

Founded in Strasbourg (France), 2CRSi group develops, produces and sells high-performance customised and environment-friendly servers. In the financial year 2020/2021, the Group achieved turnover of €164m. The Group today has approximately 350 employees and markets its offer of innovative solutions (processing, storage and network) in more than 50 countries. 2CRSi has been listed since June 2018 on the regulated market of Euronext in Paris (ISIN Code: FR0013341781) and is included in the European Rising Tech label. For further information please visit: www.2crsi.com

Contacts