Geomatikk Group expands by acquiring the Norwegian company MX Data AS
Oslo, Norway 7th October 2022: Geomatikk Group and MX Data AS have signed a share purchase agreement, in which Geomatikk has acquired a majority of the shares in the Norwegian software company MX Data AS as of October 7 th.
In 2021 Geomatikk Group had a revenue of 857 MNOK with a profit (EBITDA) of 157 MNOK, which is an increase from 144 MNOK in 2020. The same year, the London-based company Hg Capital, became the majority owner of the company.
MX Data is a provider of software for documentation of fiber networks in the Norwegian and Swedish markets with more than 170 active customers.
MX Data with founder Gaute Moxnes develops the software product Telemator, which has almost become a standard in the Norwegian market for documentation and operation of various types of networks, including fiber networks.
Micado’s (acquired in June) TelMe-products builds on MX Data’s Telemator-product. Joining the two companies under the same ownership is a natural next step and will provide predictability for customers and strengthen the ability to support our common customers and further develop the products.
Telemator will be tighter integrated with TelMe-products but will continue to be delivered as an on-premise and stand-alone product.
We have had a solid partnership with Micado for many years. Becoming a part of the Geomatikk Group under the same ownership as Micado is a natural step to ensure predictability for our customers and strengthen our ability to further develope and support Telemator, says Gaute Moxnes, Managing director and founder of MX Data.
Gaute and MX Data has an incredible market position with Telemator, both in the Norwegian and Swedish market. We are now looking forward to getting Gaute and his team as a part of the Geomatikk Group and to further developing the company and products in close cooperation with Micado, says Geir Hansen, CEO Geomatikk Group.
Key financials:
MX Data AS had revenues of approximately 7.5 MNOK in 2021 with a profit of 4.5 MNOK and is based in Tromsø.
Geomatikk Group had revenues of 857 MNOK in 2021 with a profit (EBITDA) of 157 MNOK. The group has 800 employees in 4 countries, with headquarters in Norway.
For more information:
Geir Hansen, CEO Geomatikk Group – geir.hansen@geomatikk.no, mobile 90 17 28 76.
Gaute Moxnes, Managing director of MX Data AS – gaute@mxdata.no, mobile 900 16 640.