Xllnc purchased Lin Education.

Sweden M&A 15 April 2019
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Lin Education, a Gothenburg, Sweden-based provider of hardware and software tools for the education industry, announcd that it was acquired by Xllnc.

The financial details were not disclosed. Following the deal, the new entity will comprise 300 people and will reach annual sales of SEK 2.4 billion for 2019 (SEK 1.8 billion Xllnc and SEK 600 million Lin Education).

Lin Education was acquired by Summa Equity in 2017. Summa Equity will retain the software part Loops, which is Lin Education's digital learning material unit. Lin Education's vice president Per Ahrenberg will take over as CEO of Lin Education, and the company's founder Josef Lind will come back in a role as a business developer.

Lin Education, founded in 2007 and led by CEO and founder Josef Lin, is a market leader in Sweden with 200,000 digital tools used over 60 Swedish municipalities.

The annual growth in the school market is currently around 15 percent. The three largest players are Lin Education, Atea and Advania.

Xllnc, founded in 1993 and led by CEO Martin Backman, is a supplier of IT lifecycle management solutions for large corporations in the Nordics.  At the beginning of 2019, Xllnc was acquired by the Norwegian private equity company Norvestor.