|By Business Wire||
|January 17, 2014 04:24 AM EST||
Monterro has reached an agreement to acquire Lundalogik AB, a leading Nordic supplier in the field of customer relationship management systems (CRM). The company will be acquired from Bisnode. The investment in Lundalogik is being made in partnership with the management at Lundalogik.
Lundalogik, which was founded in 1990, employs 115 staff and operates in Sweden, Norway and Finland. The company has placed its LIME product range in a leading position by offering its customers a powerful technical solution, which is extremely user-friendly, along with strong services and support. The company is showing good growth and reported sales in excess of SEK 100 million in 2013, along with a profit of around SEK 20 million.
“In its position as a leading CRM player in the Nordic countries, Lundalogik has plenty of opportunities for growth in an expanding market. We are very pleased to enter into a partnership with Monterro. Their experience of developing software companies will help us to consolidate and develop our strong position,” says Erik Syrén, CEO of Lundalogik.
“We are looking forward to an exciting journey with Lundalogik. The company is very well-managed and profitable, and it has significant potential. We are impressed by the company’s staff and its corporate culture,” says Thomas Bill, Managing Partner at Monterro.
Monterro will be the majority owner in Lundalogik, and the management team will also have significant ownership.
About Monterro 1.
Monterro 1 invests in Nordic software companies by providing funding and actively supporting company growth. Monterro’s three managing partners – Thomas Bill, Lars Sveder and Peter Larsson – all have extensive experience in developing software companies. Monterro 1, consisting of capital from its founders and private individuals, was founded in 2012.
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