PE-backed 9Altitudes adds on Danish firm Optimate

Financial terms were not disclosed. The merged group is expected to generate a turnover of €65m and employ 400 staff across four countries.

The deal will mark the exit of Danish PE firm Industri Udvikling from Optimate, which it acquired in 2018. 

Waterland in 2019 acquired and merged Ad Ultima Group and Pylades, deploying from its seventh fund Waterland VII. The new entity in March 2020 acquired Cayentis.

The company said in a press release that it was pursuing an active buy-and-build strategy and that the brand will be further scaled up in the next few months. It said it was aiming to achieve a target turnover of €150m in the next two to three years.

Company
Founded in 2004 and based in Hinnerup, Optimate is a B2B provider of Microsoft's enterprise resource planning software, Dynamics, as well as associated business intelligence services. The company has 80 employees in five offices in Denmark.

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