Abakion purchases two local devel shops.

Denmark M&A 17 September 2018
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Abakion, a Copenhagen, Denmark-based IT integrator, announced the acquisition of two local Danish companies: Dynateam CRM and Clevercode.

The transaction, which has financial details undisclosed, was made in exchange for shares in the company, following which the former owners of Dynateam CRM and Clevercode together will own about 12% of Abakion.

Abakion, led by CEO Kenneth Kryger Gram, provides development and implementation of IT business solutions to medium-sized businesses and specializes in Microsoft technologies, including Dynamics NAV, Dynamics 365 Business Central and Dynamics 365 for Sales. The company had revenue of just over DKK 70M ($11M) in 2017.

Both Dynateam CRM and Clevercode are profitable companies, with the first registering DKK 5.9M ($920k) in sales in 2017 and the latter DKK 3.5M ($350k).