Knowit will finalize the acquisition of CreunaPublished 19 Nov 2020
The Norwegian competition authority has approved Knowit’s acquisition of the Nordic digital agency Creuna. This means that the acquisition made public on 22 October will be finalized on 30 November 2020. Creuna will become part of the business area Knowit Experience, which will thereby grow with around 300 employees, to about 900 employees. The number of employees in the Knowit group will grow to approximately 2,600.
The company will be consolidated into Knowit’s financial reporting as of December 2020.
The merger and integration of Creuna’s operations with Knowit Experience will mean significant cost synergies, combined with new business opportunities, and is expected to support a favourable development of profitability going forward. Knowit expects the acquisition to be accretive to earnings per share as early as during 2021.
“We can see that the shift to digital business models is accelerating among our clients. With reinforcement from Creuna, our offer in digital transformation becomes the strongest in the Nordic region,” said Per Wallentin, President of Knowit, when the acquisition was announced in October.
The two organizations will be joined under the brand Knowit Experience and will strengthen their position in digital customer experiences in all the Nordic countries.