Crayon Further Strengthens its Cloud Offering With Acquisition of Leading IT Managed Service Provider
Oslo, 09 March 2018 – Crayon today announced the successful acquisition of Kryptos Technologies Pvt. Ltd (“Kryptos”), a specialist IT managed service provider headquartered in Chennai, India. Kryptos has approximately 60 employees and is a leading cloud migration specialist providing managed services centered around storage, server, network and applications.
“Kryptos has a strong team with deep technical capabilities and we are looking forward to adding these to our services offering and extending them across our worldwide business. This will help our customers to both accelerate their digital transformation journey and optimise their cloud migration investments through the better management of their IT assets post implementation,” says Torgrim Takle, Crayon Group CEO.
Under the terms of the agreement, Crayon will initially acquire a majority stake in Kryptos at an enterprise value of MNOK 8.5, with the option to buy-out minority shareholders based on financial performance of the company during the next 3-5 years. In 2017, Kryptos was in a ramp-up phase and posted revenues of approximately MNOK 4.
For further queries, please contact:
Torgrim Takle, Chief Executive Officer
Crayon Group Holding ASA
Tel.: +47 95 14 07 82
Crayon Group Holding ASA is a leading IT advisory firm in software and digital transformation services. With unique IP tools and skilled employees, Crayon helps optimise its clients' ROI from complex software technology investments. Crayon has long experience within volume software licensing optimisation, digital engineering, predictive analytics and assists the clients through all phases of the process of a digital transformation. Headquartered in Oslo, Norway, the company has approximately 1,100 employees in 43 offices worldwide.