Reiten & Co Capital Partners VII L.P. portfolio company Webstep has acquired 70% of the Swedish IT consulting company Diversify. The remaining 30% is held by the management of the company.
Diversify has a similar business model to Webstep. Both companies offer experienced senior consultants within the fields of system development, application development and IT management to large and mid sized clients. Both organizations put high effort into HR, and rank among top 10 companies in “Great Place to Work 2012” in each country. Diversify has 80 employees in Stockholm and Öresund/Malmö, and revenue for 2012 will be approximately SEK 100 million (€12m).
Through this acquisition Webstep will gain significant size and establish a strong foothold in Sweden. Post acquisition Webstep has more than 320 employees and generates annual revenue of approximately NOK 430 million (€59m).
Back to News