Company announcement No. 267
ECIT AS (ECIT) hereby announce that ECIT has entered into an agreement to
acquire between 86.85 % and 90.00 % of the shares in KPMG Bókað ehf, with an
option to acquire all remaining shares in the company. KPMG Bókað ehf is
operating within the Accounting & Payroll sector in Iceland. The transaction is
subject to a successful Due Diligence process. Closing is expected in January
2025.
- The acquisition will strengthen ECIT's competence and customer deliveries
within F&A deliveries in Iceland.
We are pleased to welcome customers and employees of KPMG Bókað ehf to ECIT,
says Peter Lauring, CEO in ECIT.
KPMG ehf. will hold a minority stake in KPMG Bókað ehf, after the transaction.
The acquisition will be settled in cash.
For further information please contact
Mads Skovgaard, Group CFO
mskovgaard@ecit.com
+45 2780 4942
About KPMG Bókað ehf
KPMG Bókað ehf is the Accounting & Payroll unit of KPMG Iceland. KPMG Bókað ehf
had 80 employees and an expected revenue of approx. 1.350 MISK (approx. MNOK
108) for the financial year ending 30 September 2024 which is the first
financial year after the demerger from KPMG ehf. Read more on https://bokad.is.
About ECIT
Founded in 2013, ECIT supports a large customer base with accounting, payroll,
and IT services. ECIT has a proven model for acquisitions, combining proximity
to customers, local entrepreneurship and the strength of a larger international
group. ECIT has a full-year proforma revenue of 3.8 billion NOK per H1 2024 and
more than 2,500 employees across ten countries. M&A has been key to drive the
Company's growth as ECIT has completed more than 135 acquisitions since 2013.
Read more at www.ecit.com.