NetNordic acquired Intelecom

NetNordic, an Oslo, Norway-based IT solutions integrator announced that it acquired Intelecom.

The deal was made by Herkules III, which, through Intelecom Holding AS, signed an agreement to sell its wholly owned subsidiary Intelcom Group AS to NetNordic Holding AS.

After the acquisition, NetNordic will have a total of 280 employees through consultants, product experts, developers, sales and administration in 12 offices in Norway, Sweden, Denmark and Finland.

Intelecom, led by CEO Petter Idar Jenssen, has its roots back to Alcatel Business Systems in 1990 and was later merged with Consorte and Carrot. The company currently has 70 employees in Norway at the offices in Oslo, Stavanger, Haugesund, Bergen and Trondheim.  Following a demerger and rebranding of its contact center business to Puzzel AS, Intelecom has become a pure system integrator with revenues of NOK 217 million in 2016.

NetNordic, led by CEO Jarl Øverby, is a Nordic system integrator specialized on delivering network, communication, security and Cloud services. The pro forma revenue for NetNordic in 2016 was NOK 850 million with an EBITDA NOK 53 million. Following the acquisition of Intelecom, the company will exceed NOK 1 billion in pro forma revenue in 2017.