IK-backed TeleComputing acquires Excanto

With Excanto on board TeleComputing plans on further strengthening its position in Sweden, and among Norwegian and Swedish customers.

So far in 2018, TeleComputing has acquired five other companies, including the integration specialist iBiz Solutions and IT-companies 99X, Keystep, Digisys and LanTeam, with the aim of strengthening its cloud expertise and advisory capacity.

With these acquisitions, TeleComputing expects to report a pro forma revenue on full year basis of NOK 2.4bn and have 1,100 employees across 11 locations in four countries.

Previous funding
TeleComputing was listed on the Oslo Stock Exchange in 2000, with Norwegian VC Convexa Capital buying a NOK 20m minority stake the following year. In January 2010, Ferd invested in TeleComputing through a joint vehicle that acquired 97.5% of the company's share capital in a NOK 670m deal. Ferd's stake amounted to 45%, increasing to 90% over the course of the investment, which also saw TeleComputing delisted.
 
IK Investment Partners acquired Norwegian TeleComputing from family office Ferd Capital in January 2016. IK drew capital from its IK VII fund, a 2011-vintage €1.4bn vehicle.
 
Company
Stockholm-based Excanto was established in 1999 and is a technology company that provides secure IT-services such as virtual PC and data services, cloud services, IT outsourcing and support, and IOT network services to companies in the Nordics.

People
IK Investment Partners – Thomas Klitbo (partner).
TeleComputing – Terje Mjøs (CEO).
Excanto – Marcus Lindstedt (CEO).

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• Topics
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• Sweden
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