Knowit heightens its presence in Oslo

Published 20 Jun 2013

Knowit is heightening its presence in Oslo through the acquisition of Amende AS, with 35 employees. Amende is a company in system development and strategic consultancy, focused on Microsoft technology. The goal of the acquisition is to gain a stronger position on the Oslo market and offer clients a broader range of services. Through this deal, the conditions for continued local growth through recruitment are created.

Acquisition will take place in June of 2013. Amende has during 2012 presented net sales of NOK 53.5 million with a result (EBIT) totaling NOK 9.5 million.

Knowit will in the first stage acquire 55 percent of shares in Amende AS to be paid in cash. Over the coming three years, Knowit will acquire the remaining shares in the company, distributed equally over the years. The price of the coming gradual share acquisitions will depend on the results of Amende.

– Amende, with clients mainly in the private sector and competence in Microsoft, supplements our existing operations in Oslo perfectly. The company is profitable and we expect the acquisition to contribute to increased earnings per share for Knowit. The acquisition is in line with our strategy of working close to our clients and offering solutions and specialist competence on the local market, says Mats Ohlsson, head of acquisitions at Knowit.

– Taking part in building larger operations in Oslo together with Knowit, a company we know well after several joint client assignments, is very exciting. We share many basic values with Knowit and believe that we together can create positive development for both Amende and Knowit, says Petter Hellevik of Amende.

Amende will change its name to Knowit Amende and immediately begin collaborating with existing Knowit companies in Oslo as regards sales, deliveries, recruitment and administration. Through this acquisition, Knowit companies in Oslo will be able to accept larger projects and assignments, as the joint supply capacity increases.

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