Iver purchases the Swedish cloud provider City Network.

Iver, a Stockholm, Sweden-based  IT services provider, announced that it acquired the Swedish cloud provider City Network.

The acquisition, made for an estimated SEK 300M ($33M), creates a new European cloud alternative for Swedish and international enterprises.

City Network will, until further notice, continue to exist as an independent brand and business area within Iver managed by Johan Christenson.

City Network, founded by CEO Johan Christenson, provides services including Compliant Cloud - IT infrastructure services for sectors subject to regulatory compliance requirements - and the company's public cloud service, City Cloud.

The company is based in Karlskrona and has 50 employees.

Iver, led by CEO Carl-Magnus Månsson, is a merger result between Candidator and DGC made in 2018. The compan has 1,200 employees working from 25 offices across Sweden and Norway and develops and provides services in the field of IT operations, high security solutions, and application development for medium- and large-sized companies and organisations, and for the public sector.