NetNordic continues to grow by acquiring Intelecom

(Oslo, 6 July 2017) NetNordic acquires Intelecom and strengthens its position as the leading system integrator of network, security, communications and cloud solutions in the Nordic enterprise market. With this acquisition NetNordic will be passing one billion NOK in revenues, increasing its competence in strategic verticals, and strengthening its platform for further growth.

Market consolidation
«Intelecom has a long and strong history built on loyal enterprise customers, market leading vendors and a highly competent organization. We are proud that NetNordic recognizes our values ​​and now wants to combine forces. We join NetNordic with pride and are confident that we will contribute to continued growth going forward. We have made significant investments in competence, systems and cloud based services, and with NetNordic we look forward to providing an even wider range of solutions and services to our customers, “says Petter Idar Jenssen, CEO of Intelecom.

A platform for continued profitable growth
“Intelecom has an impressive history within its core segments offshore, hospitality and public sector. We have followed Intelecom for a while and believe it’s a great fit with NetNordic. Together with our new majority owner Norvestor, NetNordic aims to drive consolidation in the system integrator market, where this acquisition is a leap step. With Intelecom on board  we are confident that our customers will experience increased added value in their own pursuit for improved efficiency and competitiveness, “says Jarl Øverby, Group CEO of NetNordic.

Broadened product and service portfolio
After the acquisition, NetNordic will have a total of 280 employees through consultants, product experts, developers, sales and administration in 12 offices in Norway, Sweden, Denmark and Finland. NetNordic provides solutions and services for Unified Communication (i.e. integrated secure enterprise communication solutions including video, mobile, conferencing and contact centers), network security and network management, WiFi-as-a-service and tailor made system integration for its customers. NetNordic will continue to work as an independent operator, with a portfolio of products from market leading vendors as the basis for providing the best solutions to its customers.

The acquisition is subject to approval from the Norwegian Competition Authority.

Contacts:
Jarl Øverby, Group CEO NetNordic, jarl.overby@netnordic.com, phone: +47 98217009
Petter Idar Jenssen, CEO Intelecom, petter.idar.jenssen@intele.com, telephone +47 92897381
Andreas Lysdahl, Investment Manager Herkules Capital, al@herkules.no, telephone +47 97064687
Christian Sontum, partner Norvestor Equity AS, christian.sontum@norvestor.com, telephone +47 99153698

NetNordic is a Nordic system integrator specialized on delivering network, communication, security and Cloud services. As the “Best Companion” NetNordic shall contribute to realize customer’s business potential through efficient use of solutions and services. NetNordic is headquartered in Oslo, Norway. 2016 proforma revenue was 850 million NOK with an EBITDA of 53 million NOK. Following the acquisition, the company will grow to a pro forma turnover of over 1 billion in 2017 and have 280 employees at 12 offices in the Nordic countries, across subsidiaries in Norway, Sweden, Denmark and Finland. Read more at www.netnordic.com

Intelecom is a leading Norwegian supplier of network and communications solutions. The company has a long history and a leading position with large enterprise customers, with focus on the verticals offshore, public/governmental and hospitality. Intelecom has roots back to Alcatel Business Systems in 1990 and later mergers with Consorte and Carrot, and currently has 70 employees in Norway at offices in Oslo, Stavanger, Haugesund, Bergen and Trondheim. Following a demerger of its contact center business, Intelecom is now a pure systems integrator with a 2016 turnover of 217 million NOK. Read more at www.intele.com