EG, a leading Nordic software company, announces they acquire Ørn Software, a Viking Venture portfolio company. With EG as the new owner, Ørn Software is strengthening its offerings with even better software solutions and a stronger team enabling customers to move their business further.
As all the closing conditions are met, including approval by the Norwegian and Finnish authorities, the closing of the transaction was completed the 1st of August.
Following the completion of the transaction, initiate a delisting of Ørn from the Euronext Growth stock exchange. The change of ownership will not affect Ørn’s customers or employees.
– Joining forces with EG is a monumental milestone for our company. We are confident that the strong joint entity represents huge opportunities for both our customers and employees. Our goal has always been to become a leader in the Nordic region, and as a part of EG we believe we are taking major steps to deliver on our strategy, says Sten-Roger Karlsen, CEO of Ørn Software.
EG is a market-leading vendor of Nordic Vertical Software for private and public customers. EG’s Software-as-a-Service offerings are developed by specialists with deep industry and domain knowledge, supporting business-critical and administrative processes. EG employs 1,700+ people, primarily in the Nordics, and in 2021, Group revenue was DKK 1,755 billion.
– EG can support the Ørn Software management team to continue their acquisition journey and help them to further integrate the companies they have already acquired. I am happy that we can now start onboarding the employees, and I look forward to joining forces with them and the great products and customer relationships they bring, says Mikkel Bardram, CEO of EG.
– Since we invested in Ørn Software in 2018, it has grown from a small Norwegian business to a large software company in the Nordics. We listed the company on the stock exchange last year, and during this period, Ørn Software has increased its ARR from MNOK 122 to MNOK 238. It has been a great collaboration with the owners and management team, says Joar Welde, Partner at Viking Venture and Chairman of the Board at Ørn Software.
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