Clearwater International Denmark has advised NORRIQ, a supplier of modern business IT solutions, on the sale of its hosting and IT infrastructure business to hardware giant Dustin. Thus, Dustin has initiated its geographical expansion into the Danish hosting market. NORRIQ will be able to offer its digital solutions within ERP, CRM, BI and E-commerce to the Dustin customer base.
NORRIQ is one of the largest IT consultancies in Denmark offering full-service IT solutions to over 10,000 customers in over 40 countries with 350 employees. The hosting and IT infrastructure business generates an annual revenue of DKK 57m (€7.7m) with significant levels of recurring revenue.
Dustin is one of the leading IT resellers in the Nordic region, offering a broad range of hardware, software and associated services and solutions, operating in Sweden, Denmark, Norway and Finland. Today, the Dustin group has more than 900 employees and an annual revenue of approximately DKK 7bn (€1bn).
The Clearwater International team consisted of Partner Per Surland and Senior Associate Casper Norre.
Bo Martinsen, CEO, NORRIQ
During the last two years, we have seen many transactions in this industry, of which we have had the pleasure of advising on five of them. With the majority of these involving different international buyers, we have knowledge of and access to the global buyer population and understand the characteristics of the opportunities they are interested in. We expect to see continued M&A activity in the sector in a market that is expected to grow significantly in the next couple of years.”