Posts

The Ørn Software family is growing!


FACILIT – NORWAY

In early March 2021, Ørn Software acquired the Tromsø-based software company Facilit, thus gaining an impressive portfolio of new customers in the public sector in Norway

“Facilit has had impressive results and fits the Ørn portfolio perfectly. This acquisition strengthens our position nationally in the Facility Management field,” says Ørn Software’s CEO Sten-Roger Karlsen. The acquisition gives Ørn Software a 39% share of the Norwegian facility management market. The acquisition also provides Ørn with 12 highly skilled employees in Tromsø and Tønsberg. Globally, this is a rapidly-expanding business area. Even better systems for sustainable management, operations, maintenance and development of property will be required in the future.

“Facilit has developed flexible and modern software that has been well received in their part of the market. Markets where Ørn Software so far has had a relatively small presence, such as Norwegian municipalities and counties. So, market-wise we complement each other very well,” Karlsen continues.

Read the full story here


GOING PUBLIC

On the 29th of March 2021 Ørn Software went public on Euronext Growth in Oslo

The IPO is a huge milestone in Ørn Software’s history of strong growth. The listing on Euronext Growth represents a solid platform on which we can build our growth story further. Over the last few years, we have continued to improve our customer proposition and broaden our geographical footprint. This combination of organic and acquisition-driven growth initiatives has led to an annual recurring revenue that on average has increased 80 % per year in the period 2017-2020.

Ørn Software goes public
From left: Joar Welde – Board Chair, Erik Hagen – Board member, Vidar André Løken – CFO, Ørn Software, Sten-Roger Karlsen – CEO, Ørn Software

Capital increase of NOK 250 million

CEO of Ørn Software, Sten-Roger Karlsen, emphasizes that the listing on Euronext Growth in Oslo will enable the company to continue its strong growth. Ørn Software raised NOK 250 million in new equity ahead of the listing, and attracted a range of high-quality investors, including Swedbank Robur, BI Asset Management, Aktia Asset Management, and Tar Heel Capital. Based on the offer price of NOK 10.50 per share, the market capitalization of Ørn Software is NOK 902 million, including the new shares.

Ørn Software’s largest shareholder since 2017, Viking Venture, has during the last nine months IPO’ed four of its portfolio companies – all B2B software as a service companies with M&A driven growth.

Read the full story here


LANDAX – NORWAY

Our adventure continued in May, when we could add Landax to the family

Landax has a unique position within the Quality Management space, and its platform offers an impressive width in functionality that perfectly complements our existing portfolio. Landax represents an offering that is highly attractive for Ørn’s existing customers, and vice versa. The acquisition adds 540 new customers to Ørn Software’s portfolio, including a range of large companies within Norwegian retail, logistics and industry. The acquisition also provides Ørn with 11 highly skilled employees in Norway, and a development team in Poland.

Today, companies need to continuously increase efficiency and quality to remain competitive and relevant. Implementing digital management tools is an important step towards meeting these goals. Mega-trends like digitization, smart buildings and cities, and industry 4.0 are driving the development of new technology, allowing even more value to be created with our software solutions.

Read the full story here


RAPAL – FINLAND

Last, but not least. Today, Ørn Software could announce the acquisition of Finish company Rapal

The acquisition adds 250 new customers to Ørn Software’s portfolio. Not only real estate companies, but also real estate tenants and architectural offices. It also provides Ørn with 70 highly skilled employees in Espoo, Finland, and a subsidiary in San Francisco. The US business is primarily focused on workplace analytics and smart office solutions. This gives consultants and architects access to tools used in the design phase of building projects to optimize space utilization.

“Through the acquisition of Rapal, Ørn Software continues to execute on its geographical expansion and growth plan. Rapal’s offering is highly complementary to Ørn’s real estate platform, with best-in-class solutions for lease, space and workplace management. Rapal’s Smart office solution meets the post-Covid demands perfectly, empowering companies to ensure a safe return to a more dynamic and flexible workplace”

Sten-Roger Karlsen, CEO Ørn Software

The acquisition of Rapal represents Ørn Software’s first step into Finland. After the acquisition of Rapal, we will be represented in all the Nordic countries. This will give us huge cross-selling opportunities in each region and across borders.

“I am excited to start working with Ørn. It was obvious from the very beginning that there is no overlap in our offering, neither geographically nor in terms of content, even though the customer segments are the same. This offers us great possibilities to provide our customers with a unique and versatile product portfolio. As the CEO and main owner of Rapal for over thirty years, I am particularly happy to join the Ørn family, which I find very professionally managed and share same vision as we do; to be a recognized and leading SaaS-provider in the fragmented space and occupancy management markets in Europe,”

Tuomas Kaarlehto, CEO Rapal

Read the full story here


STAY IN TOUCH

If you want further information about us, please contact us, and subscribe to our newsletter!