KMD, a Danish IT group that provides software and service solutions for the local and central government and private markets in Denmark, acquired Banqsoft, a Norway-based developer of software for the financial sector.
The acquisition, of undisclosed amount, saw KMD took over Banqsoft’s portfolio of products, customers and partners.
Led by Johnny Rindahl, CEO, Banqsoft develops software for the financial sector in the Nordic region. The company employs 141 people in various offices in Norway, Sweden, Finland and Poland, as well as an agency in Denmark.
Customers include Santander, Toyota Financial Services, Handelsbanken, Sandvik Finans, Komplett Bank, Bank Norwegian, Pohjola Bank and Volkswagen Finans.
Banqsoft’s largest owner was Nordic private equity fund Verdane Capital IV AS.