Viking Venture takes minority stake in Xait

The investment by the Norwegian venture fund sees it buy a 43% shareholding in Xait. Viking Venture's investment will support continued product development and further international expansion.

In addition to its Norwegian headquarters, Xait also maintains a US office in Austin, Texas, where the group's CEO recently relocated to with the goal of driving growth in the American market.

Company
Headquartered in Sandnes, Xait is a developer of cloud-based software for document collaboration and production.

The company was founded in 2000 and its main product is the XaitPorter platform.

People
Viking Venture – Jostein Vik, Eivind Bergsmyr (partners).
Xait – Owe Lie-Bjelland (CEO).

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• Topics
• Expansion
• Nordics
• Technology
• Norway
• Viking Venture A/S