Viking Venture has acquired 64% of the shares in EcoOnline AS – an IT company that develops information systems for documentation of chemicals.
Viking Venture is investing in EcoOnline to assist the company with further growth in the Nordic market. Viking Venture has long experience in developing companies offering Software as a Service in the corporate market – experience that will be a good fit with EcoOnline’s existing business solutions.
“With Viking Venture as an owner, we have gained a strong and knowledgeable partner,” says EcoOnline CEO Øyvind Thorsen.
Clear market leader in the Nordic countries
EcoOnline has had steady growth since it started business in 2000, with revenue of NOK 61 million in 2013. Today, more than 3,500 companies are linked up to EcoOnline’s unique database for documentation of chemicals. The customer segment is broad and includes producers, resellers and distributors of chemicals as well as those who handle chemicals at their workplace. The list includes well-known names such as NTNU, SINTEF, Ramirent and Valvoline, as well as a number of firms in the SME segment.
“EcoOnline is a clear market leader in the Nordic countries, well positioned for further growth. EcoOnline’s world-leading expertise in the development of software for managing chemicals makes the company a sound investment for the future,” says Viking Venture partner Jostein Vik.
Growing interest in technology-based growth companies
This is the third investment in Viking Venture’s new investment concept, providing an opportunity to the investor network to invest in technology-based growth companies.
“We are seeing great interest in investment in ICT companies. Participating in Viking Venture’s investor network provides access to unique opportunities in growth companies with limited downside and international potential,” says Erik Hagen, Managing Partner in Viking Venture.
EcoOnline is an IT company that develops software focused on making the management and documentation of chemicals as user-friendly and profitable as possible. By providing organizations with easy access to statutory information about chemicals, their hazards and recommended safety measures, they enable preventive initiatives and prevent harm to people and the environment. The company has 65 employees distributed among offices in Tønsberg, Oslo, Gothenburg and Helsinki. See www.ecoonline.com for further information.
About Viking Venture
One of the leading Nordic venture funds, Viking Venture invests in growth companies with international potential, and is a very active owner. Viking Venture manages five funds with total assets under management of NOK 1.3 billion. Viking Venture invests in technology companies in oil and gas, electronics and software. The fund is located in Trondheim and Houston. Further information is available at www.vikingventure.com.
Øyvind Thorsen, CEO: Telephone: +47 908 24 055
Erik Hagen, Managing Partner in Viking Venture: Telephone: +47 920 22 430
Jostein Vik, Partner Viking Venture: Telephone: +47 922 22 392