Knowit acquires Creuna – forming the largest digital agency in the Nordic region

22.10.2020

 

Knowit acquires Creuna and substantially strengthens its position in the Nordic region. Creuna will become part of Knowit Experience. The companies’ client offerings supplement each other well in digital strategies, data-driven sales, and market communication. The acquisition will mean that Knowit Experience grows to around 900 employees and that the number of employees in the group will be about 2,600.

 

The demand for digitalization has increased quickly in both the private and public sectors, as a result of changed customer behaviors in society. This has been further reinforced as a result of Covid-19. Knowit is already well-positioned, with a broad competence in system development and digital transformation. Through the acquisition of Creuna, with its strong position in digital design and tech, the offer will be even more competitive.

 

The merger and integration of Creuna’s operations with Knowit Experience will mean significant cost synergies, combined with new business opportunities, and is expected to support a favourable development of profitability going forward. Knowit expects the acquisition to be accretive to earnings per share as early as during 2021.

 

With Creuna’s local organizations, Knowit will strengthen its presence in all the Nordic countries. The acquisition will mean that Knowit strengthens its competitiveness significantly, as well as contributing to continued consolidation of the market.

“We can see that the shift to digital business models is accelerating among our clients. With reinforcement from Creuna, our offer in digital transformation becomes the strongest in the Nordic region. We are very much looking forward to welcoming our new colleagues from Creuna to Knowit”, says Per Wallentin, CEO of Knowit.

“Our ambition is to be the leading agency in data-driven customer experiences in the Nordic region. With the competence and passion that Creuna have for developing strong brands and user experiences, we are further strengthening our position. At the same time, we become an even more attractive employer with exciting development possibilities for our employees,” says Fredrik Ekerhovd, EVP Knowit Experience.

“The merger of Knowit and Creuna is an ambitious venture that will provide our employees with fantastic career opportunities. We share the same values and a passion to help our clients build strong brands and contribute to the development of digital business models” says Torstein Harildstad, Group CEO of Creuna.

The two organizations will be joined under the brand Knowit Experience.

Knowit Experience is a business area within Knowit with around 600 specialists in technology, design, and communication. Its customers are found in several different sectors, with a large part in the public sector, retail, and health.

Creuna is a Nordic digital agency with around 300 employees in Denmark, Norway, Sweden, and Finland. Net sales for the last 12 months amounted to 398 MSEK, and EBITA amounted to 21.5 MSEK.