Crayon Acquires Leading Channel Software Service Provider
(OSLO, Norway) -- Crayon Group Holding ASA (OSE: CRAYON), a global IT advisory firm with the world’s largest independent cloud practice, announced today it signed an agreement to acquire Sequint, a leading Dutch IT channel software service provider.
This acquisition will be a significant add-on to Crayon's Cloud-iQ platform, with approximately 300 partners, to further increase scale on the indirect software business for Crayon in the Benelux region.
“Sequint has a strong footprint in the Dutch market, with strong licensing capabilities, supported by a solid team and proven financial record, and we are excited about welcoming them to our team,” says Torgrim Takle, Crayon Group CEO.
Over the next two years the plan is to further strengthen the Sequint offering and invest to gain market share using Crayon unique IP and service offering.
According to the agreement, Crayon will acquire Sequint at an enterprise value of approximately 40 million NOK, out of which 25 million NOK is related to an earn-out model based on the financial performance of the company during the next two years.
“The entire Sequint family is excited to join Crayon to further strengthen our capabilities and accelerate in the Dutch market. Crayon adds on licensing expertise and services capabilities that are essential in a more digitalized world,” says Maarten Jong, Sequint CEO. Sequint will continue under its own brand for the near future.
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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 optimize its clients' ROI from complex software technology investments. Crayon has deep experience within volume software licensing optimization, digital engineering, predictive analytics and assists clients every step of their digital transformation. Headquartered in Oslo, Norway, the company has more than 1,300 employees in 43 offices worldwide.
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