In a significant move in the local IT sector, Axcel, in collaboration with Chr. Augustinus Fabrikker, has acquired Danish digital transformation partner itm8. This acquisition facilitates the creation of a major Northern European entity in end-to-end IT services, as itm8 concurrently acquires Axcel-owned AddPro. Both itm8 and AddPro have established strong brands and attracted exceptional talents, contributing to their growth in respective markets. The combined operation’s revenue for 2022 is expected to reach approximately €320 million.
“AddPro fits perfectly into the itm8 structure, allowing us to further accelerate growth and create scale advantages. Our current ecosystem of brands now gains access to the Swedish market, and AddPro customers will benefit from a wider range of services. I am thrilled to join forces with our many new talented colleagues from AddPro,”says Henrik Kastbjerg, CEO of itm8
Nicklas Persson, CEO of AddPro, will become the Sweden Chief and join itm8’s management team led by Henrik Kastbjerg.
Founded in Herning, Denmark in 2003 by CEO Henrik Kastbjerg, itm8 has showcased impressive growth through an accelerated acquisition strategy and delivering superior organic growth. Itm8 is a leading provider to Danish small and medium-sized enterprises, employing over 1,100 IT experts and supporting more than 4,200 customers across four critical areas: Cloud Services, Digital Transformation, Application Services, and Cyber Security.
AddPro, established in Malmö, Sweden in 2000 by CEO Nicklas Persson, has seen substantial growth over the past 20 years, becoming a leading provider of managed IT services in Sweden. Since Axcel’s investment in 2020, AddPro has expanded its business organically and strengthened its Swedish presence through additional acquisitions. In 2021, AddPro ventured into the Danish market, further extending its reach with three more acquisitions in Denmark in the recent month.