OpenSolution buys KDR from Norway and CashPoint from Sweden, consolidates its position in the Nordic payment solutions market.
The two companies are Cashpoint, a Swedish distributor of POS systems and POS terminals, as well as KDR, a leading Norwegian provider of payment solutions.
The transactions, which have the financial details undisclosed, aim to strengthen the company expertise in selected customer verticales and its position in the Nordic region.
This is the second acquisition of OpenSolution in 2017, as in in March it bought Lindberg & Frisk AB
OpenSolution Group, founded and led by CEO Christian Johansson, provides a full service product and software portfolio to its client base, including restaurants, casinos, arenas and other customer verticals. The company covers the entire value chain of payment solutions, making it a single point of contact for 8,000 customers throughout Scandinavia.
For 2017, the company expects revenue of SEK 200M ($24M). OpenSolutions is owned by IK Investment Partners, which bought the share package from the founder of the company in June 2016.