Knowit sells Knowit Services in Norway and Sweden

Published 12 Dec 2014

Knowit AB has signed a contract with Candidator AB regarding the sale of Knowit Services with operations in Norway and Sweden. The purchase-sum, estimated to total around SEK 45 million, will be paid in cash. The transaction is expected to have a small, positive effect on the operating profit. Acquisition will occur in January 2015 and the final settlement will be reported in Knowit’s year-end report 2014. The sale is a result of Knowit’s strategic development and streamlining of its operations.

Knowit Services has long experience of IT operations and support. The company has 31 employees in Bergen and Oslo in Norway and in Borlänge in Sweden. The sale also includes slightly more than 50 percent ownership of a modern server room in Bergen.

– We are coming to a company with very high competence. Candidator is an aggressive, well-run company with good owners. These factors jointly give us a strong position and great conditions for expanding in Norway and Sweden. We will also continue to work closely with Knowit, says Lars Solbakken, CEO of Knowit Services.

As part of the agreement, the parties are signing a collaboration agreement covering joint deals to the external market, as well as Candidator supplying IT operations and services to the Knowit corporation in both Sweden and Norway.

– 2014 has been a year in which Candidator has had strong organic growth and won many new clients. Now, we are adding this acquisition to the equation, which gives us even better possibilities of giving our clients a very positive client experience. I am also expectant as regards the possibilities we have together with the Knowit corporation in future, in both Sweden and Norway. Getting the Knowit corporation as a client and new employees is almost unbelievably good, says Johan de Verdier, CEO of Candidator.

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