Accountor Software combines with 24SevenOffice’s ERP software division to expand Nordic footprint

The transaction follows KKR’s acquisition of a majority stake in Accountor Software earlier this year and supports the company’s ambition to become one of the leading pure-play business software companies, serving SMEs as well as larger organisations and corporations in the Nordics. By combining Accountor Software with 24SevenOffice’s ERP cloud software division, Accountor Software expands its footprint across the Nordics, adding around 30,000 customers in Norway.

“This is an exciting milestone and a natural evolution of our strategy to grow as one of the leading pure-play business software players across the Nordics. Joining forces with 24SevenOffice’s ERP software division will benefit all our stakeholders, from our world-class employees to our customers and partners. We are now firmly executing our plans to expand into new core markets, empowering a broader range of customers with cloud-based mission-critical software,” said Mikko Soirola, CEO Accountor Software.

“The combination of Accountor Software and 24SevenOffice’s ERP division is a perfect fit and will create a very competitive player across the Nordics, with capacity to meet the needs of a large pool of both SME and larger customers. We are impressed by both teams and look forward to supporting them on this growth journey,” commented Hans Arstad, Managing Director and Head of Private Equity in the Nordics, KKR. 

24SevenOffice has in recent years accelerated the organic growth of its AI-accounting and ERP software division and has successfully penetrated the B2B SaaS market in Norway and Sweden, providing automated business administration solutions with built-in scalability and modularity.

Strong revenue development of 24SevenOffice’s AI-accounting and ERP software division has significantly contributed to the company’s solid financial performance this year, with ample opportunities for continued sustainable growth.

The acquisition will create additional value and synergies, further boosting Accountor Software’s best-in-class offering and technology platform, with added potential to serve and grow in the SME space as well as with larger organisations.

The transaction will have no impact on current relations with Accountor Software’s customers and business partners.

24SevenOffice Group AB is listed on Nasdaq First North Stockholm and the transaction is conditioned upon shareholder approval at an extraordinary general meeting, as announced by 24SevenOffice Group AB today. The transaction is also subject to regulatory approval.