The Scandinavian software company EG A/S (“EG”) has acquired the Norwegian software company Lindbak Retail Systems AS (“LRS”). This is the first acquisition since the private equity fund Francisco Partners took over the ownership of EG for DKK 3.7bn in April.
LRS provides IT solutions to retail chains, and the company’s 130 employees serve more than 4,000 stores daily in Northern Europe from offices in Oslo, Bergen, Trondheim and Gothenburg. With the acquisition, LRS becomes a leader within retail software in Scandinavia.
LRS will continue to operate as a strong and independent business area within EG which will continue its growth strategy through acquisitions within industry-specific software.
Accura advised Francisco Partners and EG in connection with the acquisition.
For further information, please read Francisco Partners’ press release.