Livingstone’s Media & Technology team has acted as advisor to iBiz Solutions on its sale to TeleComputing. The transaction is the result of a structured sales process where Livingstone identified buyers that could offer the necessary conditions for iBiz’ continued expansion.
iBiz Solutions supplies integration strategy and services to large and midsized companies and organisations in Sweden and Norway, like Scandic, Olav Thon Group, Sandvik, Felleskjøpet and AlfaLaval. Its headquarters are located in Karlstad, and the company also has offices in Stockholm, Gävle and Oslo. iBiz has just over 50 employees and the turnover amounted to SEK 63 million in 2017.
TeleComputing has agreed to acquire iBiz Solutions. TeleComputing thereby strengthens its service offering with comprehensive integrations expertise, in line with the company’s strategy and strong service line within hybrid cloud solutions. Existing and potential clients of both companies will thereby gain access to a superior service offering.
“At iBiz, we’re convinced that we’ve found a great partner for our future development and growth. We’re happy with the decision to have Livingstone on our side in this, they’ve contributed valuable advice and support in all phases, from planning and preparation to final negotiations. The team has been knowledgeable, strategic and professional throughout,” says Allan Hallén, CEO at iBiz Solutions.
The TeleComputing Group is a supplier of complete IT services to the Nordic market, delivering market leading solutions in IT management, cloud services, outsourcing and IaaS and PaaS services (Infrastructure and Platform as a Service). The Group has some 700 employees at 8 locations in 2 countries and some 1,300 corporate clients in the Nordics.
“As tech like machine learning, artificial intelligence and Internet of Things grows increasingly common, the demands for integration control grows, which in turn, creates a need for expert advice and increasingly complex IT solutions. This transaction is an example of how established suppliers of data capacity, networks and management, can move up the value-chain by realigning its business towards integration solutions and consulting,” says Christopher Fägerskiöld, Partner at Livingstone.
Livingstone was exclusive financial advisor to iBiz Solutions in the sales process.
“We’re happy with the decision to have Livingstone on our side in this, they’ve contributed valuable advice and support in all phases, from planning and preparation to final negotiations. The team has been knowledgeable, strategic and professional throughout.”