24SevenOffice Group AB acquires INNOMATE A/S to expand its presence in the Danish market and enhance its product offerings in cloud-based HR solutions.
Target Information
24SevenOffice Group AB, a publicly listed company on the Swedish Spotlight Stock Market, is a prominent provider of web-based ERP solutions that encompass Financials, Accounting, Payroll, CRM, Project Management, and Invoicing. With its headquarters located in Oslo and additional offices in Sweden and the UK, the company boasts a robust clientele of 67,000 customers.
INNOMATE A/S, established in 1992, operates as a specialized player within the Danish software market, primarily offering cloud-based HR solutions to both public and private sector clients. The strategic acquisition of INNOMATE will position 24SevenOffice as a strong contender in the Danish market by enhancing and diversifying its existing product portfolio.
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Industry Overview in Denmark
The Danish software industry has experienced significant growth in recent years, driven by increasing demand for innovative cloud-based solutions. Companies in
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24SevenOffice Group AB
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in 2022
in a Merger deal