Advania acquires CLOUDIO and broadens its offering in Denmark

Key transaction highlights

• Advania has reached a definitive agreement to acquire CLOUDIO from management (currently holding 100% of the shares).
• The closing of the transaction is expected during the fourth quarter of 2022, subject to regulatory approvals.
• Advania, with a heritage dating back to its inception in Iceland in 1939, is a leading IT-services provider in Northern Europe with operations in Sweden, Iceland, Norway, UK, Denmark and Finland.
• CLOUDIO is a specialist within IT infrastructure and specialises in backup and storage solutions focusing on the mid to enterprise market in Denmark with cross boarder expansion capabilities.
• The transaction allows Advania to scale through new services in Denmark and continue to build a highly efficient offering within consulting, managed services, product and software sales.

The Advania group aims to become the preferred IT services provider in Northern Europe. Through the acquisition of CLOUDIO, Advania can strengthen its offering to a broader variety of services to both existing and new customers. Furthermore, Advania and CLOUDIO will create a first class workplace for employees, allowing the exceptional talent from both companies to thrive in an entrepreneurial environment with a decentralised model close to customers in the Danish market. The team in CLOUDIO will continue to offer the highest level of services to their existing customers and become a key delivery vertical for Advania in Denmark.

- It’s truly exciting to have Thorkil and the CLOUDIO team joining Advania on our growth journey in Denmark. The acquisition underpins the focus on secure, flexible, and efficient storage and backup solutions in an ever-changing cyber environment. We are pleased to have talented specialists joining our team which ensures that employees can continue to develop and thrive, says Carsten Weis, CEO of Advania Denmark.

Thorkil Hansen will continue to lead the offering to CLOUDIO's existing and new customers.

- We are very proud of what we have built over the last decade in CLOUDIO and are now ready for the next step of our journey. It’s a pleasure to be able to join forces with Advania, who we consider an ideal partner for further growth. CLOUDIO will be a perfect fit with the existing offering at Advania, says Thorkil Hansen, CEO of CLOUDIO.

The majority of the shares in Advania is owned by funds managed by the Private Equity team at Goldman Sachs Asset Management.

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