ECIT has acquired 70% of PCSS, while management in PCSS will hold a 30% position going forward. The acquisition gives ECIT an opportunity to build a stronger consulting environment and strengthen the consulting position within Visma’s technology product range, as within related technology areas.
”We are pleased to welcome both the customers and the competent employees of PCSS to ECIT. PCSS delivers solutions and services to Norwegian SME customers, and has a strong combined portfolio of Visma and proprietary solutions,” says Peter Lauring, ECIT CEO. The acquisition of PCSS is a natural part of building a larger organization within the consulting area in ECIT’s IT division.
The acquisition has been paid partly with cash and partly with treasury shares. ECIT stock of treasury shares is 4.021.828 after the transaction.
PCSS has until now been operated by two partners, Hans Gunnar Rosten (Founder) and Trond Ramstad (managing director).
PCSS is a co-owner of two other companies; Cloud Connection AS (50%) and Connect HRM AS (34%) which operate within the same technology areas as PCSS, but with a higher degree of specialization. Cloud Connection AS also owns a part of Cloud Controller AS (40%), delivering qualified accounting and payroll services.
PCSS was founded in 1993. PCSS has a turnover of appr. NOK 17,9 million (2020) and 16 employees. (Cloud Connection AS; 2020 turnover appr. MNOK 12,5 and 12 employees. Connect HRM AS; 2020 turnover appr. MNOK 6,5 and 6 employees. Cloud Controller AS; 2020 turnover appr. MNOK 4,5 and 6 employees).
ECIT was founded in 2013 and support a large customer base with accounting, payroll, and a broad range of IT services. Proforma 2020 revenue of NOK 2 billion and 2,100 employees across 9 countries.
M&A has been a key driver of the Company's growth and ECIT has completed more than 100 acquisitions since 2013. ECIT has a well-proven model for acquisition and integration of businesses, ensuring customer proximity and local entrepreneurship combined with the strength of a larger international Group.
For more information about ECIT, please visit www.ecit.com.