Information on the target
Formed in January 2026 through the equal merger of Grade and Talentech, the Company has established itself as the leading Nordic HR-tech platform. It serves nearly 4,000 corporate and public-sector customers across all four Nordic countries, supporting more than 1.2 million users and facilitating over 650,000 recruitments each year. Talentech generates annual revenues exceeding NOK 700 million, with an impressive 95% of this revenue being recurring, which is underpinned by long-standing customer relationships and a proven track record of buy-and-build consolidation, having acquired 15 companies to date.
The Continuation Fund will empower Viking Growth and Talentech to maintain their leadership in the consolidation of the Nordic HR market while enhancing customer value through further product development and AI-led innovation. Joar Welde, Partner at Viking Growth and board member of Talentech, emphasized, “Talentech has built a category-defining Nordic HR-tech platform, and this transaction reflects our conviction in the Company’s next chapter.”
Industry overview in the target’s specific country
The Enterprise Software industry in the Nordic region has experienced significant growth, driven by the increasing demand for digital transformation across various sectors. Companies are increasingly adopting software solutions to enhance operational efficiency, improve customer engagement, and streamline processes. This trend is particularly pronounced in the HR-tech segment, where organizations are seeking innovative solutions to manage their workforce effectively.
In Norway, the Enterprise Software market is characterized by a robust ecosystem of technology companies that are at the forefront of developing cutting-edge solutions. The government’s commitment to digitalization and support for tech startups has fostered a conducive environment for growth. As a result, companies like Talentech are well-positioned to capitalize on these opportunities, offering comprehensive platforms that address the full recruitment lifecycle.
Moreover, the Nordic countries are known for their high levels of internet penetration and technological adoption, which further accelerates the demand for enterprise software solutions. The focus on sustainability and employee well-being has also led to an increased interest in HR-tech solutions that promote a positive workplace culture and enhance employee engagement.
As the market continues to evolve, the integration of artificial intelligence and data analytics into enterprise software is becoming increasingly prevalent. Companies are leveraging these technologies to gain insights …