NetNordic acquires IPCO

NetNordic, majority owned by Norvestor VII, L.P. (“Norvestor”), has signed an agreement to acquire IPCO, a Norwegian consulting company delivering tailor-made software solutions and digital services.

NetNordic delivers network, security and communication solutions for large and medium-sized businesses. IPCO isNetNordic’s tenth acquisition since 2015 and the 6th since Norvestor partnered up with Management in 2017.

"As a system integrator within network, security and communication we are increasingly asked to provide more tailor made solutions for our customers to support them in their pursuit of effective digital solutions. The need for increased competence and capacity within system development is key to continue diversifying our services to a wide range clients. With their strong competence and relevant experience, IPCO fits well into our growth strategy. With this increase in capacity, we are now approaching 40 dedicated system developers, making NetNordic a significant player within the Nordics. Network, security and communication are all key value drivers for the private and public sector, and NetNordic has a leading role in this development, says Jarl Øverby, CEO of NetNordic.

“IPCO has significant experience with large projects and a solid track record within digitalization. It is a natural step for us to become part of a larger environment, and NetNordic is a perfect fit. We both have a solid base in Halden, Norway, which will be further strengthened by the acquisition. At the same time, our environment in Oslo will help strengthen NetNordic's delivery capacity in large and demanding projects. We add expertise and capacity and look forward to becoming a part of NetNordic, and to contribute to the company’s impressive growth, both in Norway and the Nordic countries,” says Ole Jakob Ottestad, CEO of IPCO.

For further information:

Christian Sontum, Partner in Norvestor Telephone: +47 991 53 698 Email: cso@norvestor.com

Jarl Øverby, CEO NetNordic Group, Telephone: +47 982 17 009 Email: jarl.overby@netnordic.com

Ole Jakob Ottestad, CEO IPCO Telephone: +47 995 76 976 Email: ole.jakob.ottestad@ipco.no ,

NetNordic is a Nordic system integrator, specialized in the area of network, security and business communication. NetNordic deliver customer specialized solutions and services. We always strive to be our customers’ “Best Companion”, we want to help our customers with their unique IT challenges, allowing them time to focus on their own core business. NetNordic is headquartered in Oslo. NetNordic had approximately 1,2 billion NOK revenue (pro forma) in 2018. After the acquisition, the company has approximately 330 employees in 14 offices in the Nordic countries, and our solutions are distributed through subsidiaries in Norway, Sweden, Denmark and Finland. Read more at www.netnordic.com and follow us on social media.

IPCO is a Norwegian consulting company delivering tailor-made software solutions and digital services. The company has strong expertise in IT service management, software development, customization, and maintenance of solutions. The company also has significant experience with complex projects with more than 20 employees in Halden, Norway.