Nordic buys Signicat

Viking Venture and the company's management team will both retain minority stakes in the company.

The company plans to accelerate its international expansion and expand its product offering with Nordic Capital's support.

Nordic Capital tapped its €4.3bn buyout fund Nordic Capital IX for the transaction. It will be the fund's ninth investment and is the 14th platform investment Nordic Capital has made in its focus area of technology and payments.

Previous funding
Viking invested NOK 10m in exchange for a 22% stake in Signicat in 2008, at which time the company employed just 10 people.

The VC reinvested in the company in 2014 and 2016, providing an additional NOK 30m in total.

Company
Signicat was founded in 2007 and is headquartered in Trondheim. It develops software and systems for digital identity management and electronic signatures. The company employs 115 people across offices in Norway, Sweden, Finland, Denmark, UK, Germany, the Netherlands and Portugal, and generated sales of NOK 180m in 2018.

People
Nordic Capital – Fredrik Näslund (partner).
Viking Venture – Jostein Vik (partner).
Signicat – Gunnar Nordseth (CEO, co-founder).

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