On the 3rd of July 2019, Reiten & Co Capital Partners VII LP sold their 14.26% stake in Webstep ASA. The shares were owned through their investment vehicle Global Digital Holding AS and realized at a price of NOK 25 per share. Following this, Reiten & Co holds no further shares in the company.
Webstep has positioned itself as a leading Norwegian high-end IT consulting firm, with services within a wide range of digitalization solutions and integration, including cloud, machine learning, analytics and Internet-of-Things (“IoT”).
Reiten & Co invested in Webstep back in 2011 and has since contributed to both organic growth initiatives and add-on acquisitions, as well as entrance into Sweden. Under Reiten’s ownership the company grew 3.2x in value.
Webstep was listed on the Oslo Stock Exchange in October 2017, where Reiten & Co retained a 14.3% ownership share following the IPO.
“We have been invested in Webstep since 2011, and it has been highly rewarding to work with their skilled organisation and professional employees. As the world is becoming more connected, automated and digitalized, we believe Webstep is very well positioned to benefit from this trend”, says Reiten & Co Partner Terje Bakken.