Having made its intentions to float on the Oslo Stock Exchange clear, Crayon's CEOs reveal what the move means for the future of its business
Speaking at the Crayon Partner summit, Torgrim Takle and Rune Syversen explain to Josh Budd that ‘under private ownership for the best part of the past five years, equity firm Norvestor has more than doubled Crayon’s headcount and ploughed NOK 280m (€30m) into expanding the company globally and developing new intellectual property’.
This means that when Crayon returns to make its listing on Oslo Børs it will be ‘as a NOK 6.02bn-turnover giant’.
“The strategy has worked,” said Syversen, speaking to Channelnomics Europe. “We are better positioned than ever before, we have developed our own IP in the last few years, and we have a platform to take part in the consolidation of the market which we believe will happen in this space.”
Joint CEO, Takle, told Budd that the IPO would help Crayon increase its financial flexibility, taking its M&A strategy “to the next level”, particularly honing in on software outfits boasting their own IP.
Crayon also disclosed, along with its IPO filing, that it intends to put aside NOK 300m which will partly go towards further growth.
“Economy of scale is super important, and we have a platform that can consolidate smaller local players who will either diminish over time or eventually be de-authorised by the big vendors,” explained Syversen.
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