Knowit growing within Oracle in Oslo
Published: 11 December, 2014
Knowit is strengthening its presence in Oslo through the acquisition of Dataess AS, a system development and consultancy firm focused on Oracle technology and services based on Altinn.
Dataess has thirteen employees, with clients mainly in the public sector in the Oslo area. The aim of the acquisition is to gain a stronger position on the market in Oslo and offer clients cutting edge expertise in a new service field. Through this deal, the conditions for continued growth through local recruitment are created.
Acquisition will occur in January 2015. Dataess is estimated to report net sales of NOK 43 million for 2014, with a profit (EBIT) of NOK 1.2 million.
Knowit will initially acquire 53 percent of the shares in Dataess AS in cash. Over the coming two years, Knowit will acquire the remaining shares in the company, equally distributed over the years. The price of the future gradual share acquisitions depend on Dataess’ profit.
– We have an ambition of growing more in Oslo and through the purchase of Dataess, we can offer our clients a wider service range. This gives us better conditions for recruitment and growth, says Henrik Lie-Nielsen, CEO of Knowit Norge AS.
– We have collaborated with Knowit in several client assignments and we look forward to contributing to continued positive development and growing further in the environment that Knowit offers, says CEO of Dataess, Bjørn Deverill-Mathisen.
Dataess will change its name to Knowit Dataess and immediately begin collaborations with existing Knowit companies in Oslo in sales, delivery, recruitment and administration. Through the acquisition, the Knowit companies in Norway can jointly accept larger projects and assignments, as the joint delivery capacity increases.