Herkules Private Equity Fund III has entered into an agreement to acquire the IT consultancy company Popkorn AS.
With the transaction, which is still subject to approval from the Norwegian Competition Authorities, Herkules will acquire a majority of the shares of the company. Leading employees will continue to work for Popkorn and retain an ownership position. The company will be part of a larger group of competence in Norway that also includes the software provider Elis AS.
Through 100 consultants, the two companies will offer competence within the areas of consultancy, architecture, development and integration of IT solutions.
Established in 2005, led by Managing Director Bjørn Oustad and headquartered in Hamar, Lillehammer and Linköping (Sweden), Popkorn has 35 IT consultants and Nordic customers within the Energy, Bank/Finance, Telecom and Public sectors. It has revenues of NOK30m.
Elis, a Dale, Sunnfjord-based IT services provider within development of CRM and process related systems for the energy sector, has 65 employees and revenues of NOK65m.