OSLO, NORWAY: Sikri Holding AS, a leading provider of software and services towards the public and private sectors, has entered into a binding agreement with the Kingdom of Sweden regarding the acquisition of 100% of the shares in Metria AB.
Metria provides IT solutions and services in GIS, geodata, business and real estate information and geodetic surveying to authorities, municipalities and companies. The company utilizes geographic information to digitize and automate customers’ processes and improve decision-making.
The agreed enterprise value is SEK 650 million per 31 December 2021 (purchase price of SEK 724.3 million). The transaction will close later today, 1 April, 2022. Financing of the transaction is secured from a mix of existing funds and new funds to be obtained from bank financing.
ABG Sundal Collier acted as financial advisor and AGP Advokater and Baker McKenzie (Sweden) acted as legal advisor to Sikri Holding in connection with the acquisition of Metria.
Sikri Holding has developed from a software house specializing in software and services towards the public sector, to becoming a leading company also within property data, property technology and data economics in the Nordics.
Metria was formed in 2011 in conjunction with the corporatization of a division of Lantmäteriet (the Swedish Mapping authority).
The company has close to 250 employees across 20 locations in Sweden. Metria has an organisational structure with two distinct business areas, Geoinformation and Planning & Surveying, each with complete product and service offerings.
Main customers are represented in several industries such as Public, Finance, Energy, Telecom, Forestry and Infrastructure.
Within Planning & Surveying, Metria offers measurement of land areas as well as planning services ahead of various types of construction projects. Metria’s consolidated revenue for 2021 was SEK 428 million, with an EBITDA-margin of 10.5%. Metria currently reports according to Swedish GAAP and does not currently capitalize development costs. Identified potential capitalization will lead to an adjusted 2021 EBITDA-margin of 12.2%.
Both Sikri Holding and Metria see expansion across the Swedish-Norwegian border as a natural and strategically sound next step, and as a steppingstone for further Nordic expansion.
The combination of Sikri Holding and Metria will strengthen both companies financially, competitively, geographically and from a product offering- and competence perspective. Metria’s strong position in the market for property and real estate information in Sweden is to a large extent similar to Sikri Holding’s position in the same market in Norway, through Ambita.
However, the two companies also have complementary strengths as a good basis for synergies. Prognoscentret AB is already present in Sweden, but will be strengthened by leveraging Metria’s data and customer base. The combined forces will ensure a strong Nordic platform with scale, as well as financial and competitive strength to continue expanding.
CEO of Sikri Holding, Nicolay Moulin, says the acquisition of Metria provides the group with stronger presence in Sweden. Sikri Holding already has a strong position within public administration, property technology, analysis and data – combining this with Metria’s leading position in geoinformation and planning and surveying will lay the grounds for further growth in the Nordics, says Moulin.
CEO of Metria, Anders Hugosson, is very pleased with becoming a part of Sikri Holding. – Sikri Holding as a new owner will give Metria a strengthened position for further growth and innovation. Our products and services are highly complementary and will enable development of new services, creating lasting values for our customers. This will, without a doubt, strengthen our positions in both markets.
Following the acquisition of Metria, Sikri Holding is contemplating a transfer of listing venue from Euronext Growth to the Oslo Stock Exchange.
Leave a Reply