Trifork acquires majority stake in Nine
(Please find the Danish written in finans here)
The international IT group, Trifork, has acquired a majority stake in Nine A/S. At the same time, Nine Holding is becoming shareholder in the Trifork Group. The cooperation will strengthen and anchor Trifork’s role as one of the leading providers of IT development services to the Danish public sector. Nine is an IT consulting company that has played a significant role in the digitalization of the public and private sectors in Denmark for more than 13 years. Nine’s customers include the Danish Business Authority, SKAT, ATP and AP Pension. The company has 115 employees, who are characterized as being some of the most skilled and experienced IT consultants and software developers in Denmark.
“With Trifork as the new co-owner, Nine will be an even stronger alternative for the key suppliers to the Danish public sector, as we will maintain our strong focus on quality.” says CEO of Nine, Jacob Strange and continues “Since we founded Nine 13 years ago, delivering top quality services has been of utmost importance to us – a quality we are proud of and that perfectly fits the DNA of Trifork. As a part of Trifork, we will be able to bid on even more complex and critical projects in the public market and we can now offer a broader range of services (such as operation, surveillance and cyber protection). In addition, we will be able to accelerate our growth in FinTech together with Trifork”.
“The partnership between Nine and Trifork will be the next step in our exciting journey. We are dedicated to making things easier for the citizens of Denmark. The collaboration will focus on developing effective and user-friendly software solutions to support the information flow and communication between citizens and government institutions. In order to achieve this, a strong collaboration is needed between the Danish IT suppliers. For many years, Nine has shown that they are very competent and extremely appreciated by their customers. We are looking forward to an even closer collaboration and believe that, with Nine, we have found the right partner for the future.” says CEO and founder of Trifork, Jørn Larsen.
Nine reported a gross profit of DKK 139 million (EUR 18.7 million) for the financial year 2019/20, corresponding to a growth of 16% compared to the previous year, and a profit after tax of DKK 26.5 million (EUR 3.6 million).
The management of Nine is fully dedicated without any changes and the current owners, which consist of senior executives and key employees, remain invested with a total ownership of 30% of the company.
The purchase price has not been disclosed.
For further information, please contact:
Nine A / S – Jacob Strange, CEO, phone +45 31 58 57 00
Trifork – Jørn Larsen, CEO, phone +41 79 430 96 97
About Nine A / S (www.nine.dk)
Nine A / S is an IT consulting company with offices in the center of Copenhagen. The company develops societal- and business-critical solutions in collaboration with its customers, to accelerate the digital transformation and improve efficiency and quality of daily life for individuals and companies. Nine is built on its dedicated and highly qualified employees that create long-term high-quality solutions. Nine represents a dynamic and uncomplicated culture where employees and customers immediately feel at home. The company was established in 2007 and has since been owned by its founders and key employees.
About Trifork (www.trifork.com)
Trifork is an international IT group focusing on the development of innovative software solutions. The group was originally founded in Denmark in 1996 by the current CEO, Jørn Larsen, and is now headquartered in Switzerland with companies and offices in more than 10 countries in Europe and North America. The group has more than 800 employees spread over 47 business units, focusing on three vertical business areas: Digital Health, FinTech and Smart Buildings and three horizontal business areas: Cloud Operations, Cyber Protection and Smart Enterprise. We believe we can change the world with software. Think smarter solutions that make life better and easier for everyone. Trifork optimizes its customers businesses by delivering effective and user-friendly digital solutions.
As part of its innovation program, Trifork produces technical content in collaboration with hundreds of tech-experts from the leading universities and startups. With the GOTO brand, Trifork serves a world-wide tech community of more than 180,000 people.
Triforks R&D is anchored in the Trifork Labs segment where Trifork continuously co-founds IT start-up companies. The startups produce know-how and components that Trifork use to produce innovative solutions for the customers. At present, Trifork is a partner in 17 start-up companies where Humio, AxonIQ and Verica are examples of very successful lab companies.
The Trifork Group’s financial targets for 2020 are a revenue of EURm 123 and an EBITDA of EURm 19.