Content+Cloud, a UK-based Microsoft cloud services and digital transformation provider, has been acquired by Nordic technology services provider Advania.
The acquisition, which is Advania’s first expansion outside the Nordics into the UK, takes the combined group’s turnover to £800m and its workforce to over 3,500 employees.
The transaction is expected to close this month. Advania currently operates across Sweden, Iceland, Norway, Finland and Denmark.
Content+Cloud will continue operating as a Microsoft-focused cloud service provider in the UK in the country. But it will also be able to offer its services in the Nordics via Advania.
Content+Cloud CEO Peter Sweetbaum will continue to run the company while expanding Advania’s services into the UK.
Mikael Noaksson, CEO of Advania, said: “Joining hands with Peter and his team is a great opportunity for us to enhance our customer proposition. It will help us to scale our offering outside the Nordics. For Advania, the acquisition is a major step towards becoming a leading northern European IT services provider with our decentralised model, customer intimacy focus and long-term relationships.”
Content+Cloud operates across all three Microsoft clouds and assists clients with digital transformation projects.
“Becoming part of Advania will help us to build a leading European technology and transformation provider to our clients,” said Peter Sweetbaum, CEO of Content+Cloud.
Goldman Sachs Bank Europe SE, Sweden Bankfilial and Stephens acted as co-financial advisors to Advania, while Content+Cloud was advised by Arma Partners and Travers Smith.