Knowit acquires design and tech agencies in CopenhagenPublished 14 Dec 2021
Knowit AB (publ) is acquiring the Danish design agency 1508 AS and the tech agency Strømlin ApS. The new operations, combined with the business area Knowit Experience’s existing operations in Copenhagen and Aarhus, will create a strong platform for continued growth on the Danish market. The companies’ offers complement one another well and strengthen Knowit Experience’s offer in design, consultancy, and tech.
The long-term demand for data-driven customer experiences is high, both as an effect of changed customer behaviors and as result of the fast development of new technology that enables more personalized digital solutions. Knowit Experience is the leading agency in digital customer experiences in the Nordic region and will, together with 1508 och Strømlin, gain a top position among creative design and tech agencies in Denmark.
“Our ambition is to create a stronger position on the Danish market and through the acquisition of 1508 and Strømlin, which have strong positions and many strong brands in their client portfolios, we create a platform for continued growth. Together, we will become an even more attractive employer, with exciting development possibilities for our employees,” says Fredrik Ekerhovd, EVP of Knowit Experience.
1508 and Strømlin have a total of around 45 employees. The operations in Strømlin will be integrated into, and become part of, Knowit Experience in Copenhagen as soon as possible, while 1508 will initially continue to be operated under the existing brand, in close collaboration with Knowit Experience.
The current CEO of 1508, Mikkel Jespersen, will remain in his current role and lead the operations side by side with Knowit Experience in Copenhagen and Aarhus.
“The merger of Knowit Experience and 1508 will create fantastic career opportunities for our employees and a broader offer to both existing and new clients. Our organizations share both core values and the drive to help our clients to build stronger brands,” says Mikkel Jespersen, CEO of 1508.
Knowit has strengthened its presence in Denmark significantly in the past year. The digital agency Creuna was acquired in 2020 and in October 2021, the acquisition of Cybercom was finalized. Knowit in Denmark will, following the acquisitions of 1508 and Strømlin, have a total of around 160 employees, of which 115 are included in the business area Knowit Experience.
“I see the deal with 1508 and Strømlin as an important piece of the puzzle in strengthening our position and brand in the Danish market. 1508 is already a well-known agency with several large Nordic and international brands and Strømlin brings solid tech competence. Together, we will become an even stronger partner to our clients in the digital transformation towards a more sustainable society,” says Roar Nissen, CEO Knowit Experience AS.
The acquisition of 1508 and Strømlin is expected to be finalized at the turn of the year.
The enterprise value totals DKK 75 million, with a potential additional consideration estimated to DKK 25 million.