Co-native has strategically acquired Retune Group AB to enhance its expertise in Microsoft cloud solutions and strengthen its market presence in the Nordics.

Information on the Target

Co-native has enhanced its position as the preeminent public cloud specialist group in the Nordics through the strategic acquisition of Retune Group AB (“Retune”). Established in 2011, Retune is a Swedish cloud service provider that offers managed services and consultancy, primarily focused on the Microsoft 365 platform and secure digital workplace solutions. The company is headquartered in Stockholm, employs approximately 45 professionals, and reported revenues of around SEK 100 million in 2023, with a significant percentage derived from recurring revenue streams.

This acquisition allows Co-native to substantially bolster its expertise in Microsoft cloud solutions within Sweden. Retune brings specialized knowledge in areas such as Microsoft 365, digital workplace services, and cybersecurity. Additionally, it provides Co-native with a complementary customer base that includes mid-sized to enterprise clients, thereby enhancing the company's market presence in Stockholm. Following the acquisition, Retune will be integrated into Co-native’s existing subsidiary Asurgent, which focuses on Microsoft Azure and cybersecurity services, to maximize collaborative opportunities and deliver increased value to their customers. The current shareholders of Retune, including Sobro and CEO Farzad Aghazadeh, will become co-shareholders in Co-native as part of this deal.

Industry Overview in Sweden

The Swedish public cloud market has been experiencing robust growth, driven by a rising demand for cloud-based services and digital transformation initiatives among businesses. The market is characterized by a strong emphasis on cybersecurity, remote working solutions, and the adop