Norwegian telecom Get purchases 51% from Future Home

Norway M&A 09 February 2018
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Get, an Oslo, Norway-based telecom company announced getting into an agreement for the acquisition of Future Home, a local startup based in Stavanger and providing an app connected to smart devices.

The financial details of the deal remain undisclosed, and the transaction is made 51% of the company, buying out the existing investors. The original founders and employees have the remaining shares, and Futurehome continues as an independent unit.

Future Home was founded in 2013 by Erik Stokkeland (CEO), Sigbjørn Groven, Bjarne Handeland and Odd Eivind Evensen. The company was not profitable in 2016, last official accounting registration, with losses of NOk 6.6M ($800k) at a turnover of NOK 5.9M.

Future Home raised more than $2M in outside funding, from investors including Ståle Kyllingstad, Erik Ålgård, Christian Rokseth and IKM Invest.