ITR Group strengthens competencies in hosting and operations as well as cloud transformation through acquisitions of Itadel and Cloud Teams
18/05/2021
Through the merger of two of the country’s largest IT service providers, Itadel and IT Relation create unique opportunities for customers and employees. The merger focuses on strengthening and expanding the service offering to customers and sharpening their digital transformation. Cloud Teams continues on the growth path under its own name with a sharpened profile towards customers and will become a cloud competency center for ITR Group.
The addition of Itadel and Cloud Teams strengthens ITR Group’s market position towards mid-sized and large customers who will benefit from the competency boost. ITR Group’s acquisition of Itadel is conditional on competition authority approval and expected to be completed at the end of June where the acquisition of Cloud Teams will also be completed.
”We look forward to welcoming Itadel and Cloud Teams as part of ITR Group, which will now have an even stronger position towards the mid-sized and large customers with a large group of highly competent and experienced employees, a well-run nearshoring setup and deeper competencies within cloud transformation. ITR Group has developed swiftly in recent years and established the strength to challenge and beat the largest competitors in Denmark. Over the course of six months, we have expanded the group with Improsec, Emineo, Copenhagen Software and Progressive – and we now look forward to onboarding Itadel and Cloud Teams to be strongly positioned towards small, mid-sized and large customers,” says Henrik Kastbjerg, CEO of ITR Group.
Broader and stronger competencies with focus on customer service and development
Itadel originates from TDC Hosting and was acquired in 2017 by private equity fund Maj Invest Equity, which introduced the name Itadel and has contributed to completing a turnaround of the company, which generates annual revenue of more than DKK 300 million and a positive operating profit (EBITDA). Itadel is currently one of Denmark’s leading IT ousourcing companies with around 260 experienced employees in Aarhus, Copenhagen and Prague, providing and operating secure and solid IT platforms for a number of mid-sized and large companies with a well-functioning delivery model.
Together, IT Relation and Itadel will strengthen competitiveness, develop the business and provide customers with a high service level and strong competencies within hosting, operations and cloud services under the IT Relation name. Itadel’s nearshoring activities in the Czech Republic is comprised of 70 employees who will act as a joint resource center for the companies in the ITR Group. The merger of IT Relation and Itadel will create scale benefits and contribute positively to customers’ continued development.
”We look forward to creating an even stronger business together with IT Relation and becoming part of ITR Group, which has undergone strong development in recent years and demonstrated a unique ability to develop the business and harness innovation to the benefit of customers and employees. We will be able to provide customers with a broader palette of services and stronger competencies as part of IT Relation and ITR Group, which has customer service, stability and security as absolute top priorities. At the same time, our employees will become part of a strong and expanding business that offers entirely new opportunities for professional development,” says Jess Julin Ibsen, CEO of Itadel.
Strengthened focus on cloud transformation in ITR Group
Cloud Teams was founded in 2017 and is a leading consultancy within public cloud transformation. The consultants are experts within analysis, planning and implementation of strategic cloud solutions in cooperation with mid-sized and large companies. ITR Group acquires Cloud Teams from the two founders Anders Bader Søjdis and Mickey Soussah as well as Itadel, which co-owns and cooperates closely with the company. Cloud Teams continues as an independent company in ITR Group and will become a ‘Center of Excellence’, which strengthens the Group’s competencies and services with cloud transformation. The daily management team of Cloud Teams will continue unchanged, report to CEO of ITR Group, Henrik Kastbjerg, and co-invest in ITR Group.
”Cloud Teams is growing at a rapid pace in a market offering very exciting opportunities, and ITR Group is the right partner for us as we look to develop the business, ensure value-creating cross-selling to our customers and realize the potential of our skilled consultants who are busy working on projects. As part of ITR Group, we will be able to transform our customers to Microsoft Azure and provide subsequent operations services, and we will gain access to very strong resources and a team with unique experience taking entrepreneurial businesses like ours to a new level. We are looking forward to the cooperation and the continued progress in both Cloud Teams and ITR Group,” says Anders Bader Søjdis, CEO and founder of Cloud Teams.
After the acquisitions of Itadel and Cloud Teams, ITR Group will be very strongly positioned towards competitors with total annual revenue of DKK 1.4 billion and 1,100 employees in the companies IT Relation, Mentor IT, Sotea, Improsec, Miracle42, Emineo, Copenhagen Software, Progressive, Itadel and Cloud Teams. The Group has a strong market position in Denmark with the four business areas Cloud Services, Digital Solutions, Professional Services and Cyber Security Services.
The acquisitions of Itadel and Cloud Teams entail no changes to contractual terms. The parties have agreed not to disclose the purchase price.
For additional information
ITR Group
CEO Henrik Kastbjerg, tel. + 45 2069 6700
About Itadel:
Itadel is one of Denmark’s leading IT outsourcing companies with around 260 employees in Aarhus, Copenhagen and Prague, providing and operating secure and solid IT platforms for a number of mid-sized and large companies. The company originated from TDC Hosting and was acquired in 2017 by private equity fund Maj Invest Equity, which introduced the name Itadel and has contributed to completing a turnaround of the company, which generates annual revenue of more than DKK 300 million and a positive operating profit (EBITDA).
About Cloud Teams:
Cloud Teams is a leading consultancy within public cloud transformation. The consultants are experts within analysis, planning and implementation of strategic cloud solutions in cooperation with mid-sized and large companies.
About ITR Group:
ITR Group is the leading Danish provider of IT outsourcing services to the private and public sector. After the acquisitions of Itadel and Cloud Teams, ITR Group will be represented in 17 locations in Denmark, Sweden, the Philippines and the Czech Republic. The Group has strong market position in Denmark and four business areas; Cloud Services, Digital Solutions, Professional Services and Cyber Security Services. After the acquisitions, ITR Group will have around 1,100 employees with activities in the companies IT Relation, Mentor IT, Sotea, Improsec, Miracle42, Emineo, Copenhagen Software, Progressive, Itadel and Cloud Teams.
