EG has acquired Norwegian software company Lindbak Retail Systems AS. The acquisition is the first under the ownership of Francisco Partners and establishes EG as one of the leaders in retail software in Scandinavia.
EG acquires Lindbak Retail Systems AS
"Lindbak Retail Systems is one of the largest acquisitions in EG's entire history. It is evidence we are entering a new era together with Francisco Partners," says Mikkel Bardram, CEO at EG, adding "this is an excellent acquisition, as there is a strong fit between Lindbak Retail Systems and EG. We share the same focus on customer satisfaction and developing market leading software. Lindbak Retail Systems brings indepth industry knowledge within the retail trade that is essential for success. We are looking forward to learn from our new colleagues and to share our own expertise with them".
Lindbak Retail Systems (LRS) will continue to operate as a strong and independent business area within EG, and its focus will remain on serving large retail chains headquartered in Norway, Sweden and Denmark.
"The acquisition of Lindbak Retail Systems shows our ambition to accelerate EG's growth through an aggressive acquisition strategy, focused on vertical software companies in Scandinavia. This is only the beginning," says Petri Oksanen, partner at Francisco Partners.
Both employees and the current management of LRS will transfer over to EG where the company's CEO Erik Tomren will join EG's group management with responsibility for the newly formed retail division:
"It was very important to find an experienced and professional owner such as EG, that will invest in the continued development of Lindbak Retail Systems and take the company to the next level. EG has several important customers and strong industry solutions in the retail segment, so I look forward to delivering existing as well as new customers increased value and a broader range of market leading solutions," says Erik Tomren, CEO, Lindbak Retail Systems.
EG acquired Lindbak Retail Systems on 3 June 2019. All agreements with customers, suppliers and collaborative partners will continue as before. The purchase price was not disclosed.
EG is a Scandinavian software company with more than 1,000 employees working from 15 competency centres in Scandinavia and Poland. We develop, deliver and service our own software for more than 9,500 private and public clients. Find out more at eg.dk.
About Lindbak Retail Systems
Lindbak Retail Systems provides business-critical IT solutions to ambitious retail chains within the areas of grocery, supermarkets, convenience and specialist trade. The company's 130 employees serve more than 4,000 stores daily in Northern Europe from offices in Oslo, Bergen, Trondheim and Gothenburg. Read more at lindbakretail.no.