“With this acquisition, we strengthen us within several key strategic areas at one time. It gives us a big boost in SW development capabilities, IoT and digitising for the group as a whole. We get a strong foothold in Germany within R&D Services with further offices in Munich, Berlin and Stuttgart. Last, but not least, it gives us access to a strong customer portfolio in markets such as Automotive, Smart grid/Smart Home, Banking/Insurance, IoT and Industrial Automation” says Kenneth Ragnvaldsen, CEO of the Data Respons group.

“The acquisition strengthens Data Respons position significantly within the mega trends of digitalisation. Given Germany’s strong position as the largest economy in Europe and as an industrial forerunner, a strong foothold in the country is key to benefit from the digital revolution. We strongly believe that the acquisition of MicroDoc is a great step in the right direction for Data Respons”, says Narve Reiten, lead partner at Reiten & Co.

MicroDoc had a revenue of 12.5 MEUR in 2015 with an EBIT of 3.0 MEUR. It is agreed a cash consideration of 10.5 MEUR payable at closing with an additional amount depending on the company’s EBIT development in 2016, 2017 and 2018 (earn-out mechanism). The transaction is expected to close within the next 2 weeks.