Iver acquired IT Gården.

Sweden M&A 04 July 2019
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Iver, a Stockholm, Sweden-based  IT services provider, announced the acquisition of its smaller Swedish competitor IT Gården, based in Landskrona.

The deal, which has the financial specifics undisclosed, was made with IT Gården's investor, Norvestor. Norvestor had acquired 77% of the shares at the end of 2016.

The transaction gives Iver increased geographical presence in southern Sweden, broadened customer base and increased business volume. In total, the Group will employ approximately 1,000 employees.

IT Gården, founded in 1999 and led by CEO Åge Lønning, delivers IT operations and services for customers including banks, e-commerce companies, media companies, retail and manufacturing industries. In 2018, the company had sales of SEK 222 million ($24M) and has 100 employees based in Landskrona, Malmö, Helsingborg and Gothenburg.

Iver, led by CEO Åsa Arvidsson, is a merger result between Candidator and DGC made in 2018. The company develops and delivers services within IT operations, high security solutions and application development to medium-sized and large companies and organizations as well as to the public sector.