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Itera — M&A Activity 2010
Sep 8, 2010
3639_rns_2010-09-08_d1a40157-21a0-477e-ae75-c551e552e948.html
M&A Activity
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Itera buys Visual Funk
Oslo, 8 September: Itera ASA has through its
subsidiary, Itera Gazette, bought the digital agency
Visual Funk. This will strengthen Itera Gazette's
digital business further.
With this acquisition Itera Gazette wants to take a
clear position in an industry where demand for
digital communication services increases. Itera
Gazette knows Visual Funk well through several
cooperative projects in the past year.
- The acquisition of Visual Funk is part of Itera
Gazette's offensive strategy to enhance our digital
focus. Visual Funk will strengthen our environment
further with its skilled professionals. They
represent an exciting and innovative environment that
complements us well. For our customers this means
that we take a broader approach to the total digital
value chain, says Kristian Enger, CEO in Itera
Gazette.
- This is in an exciting step for our professional
environment; Itera Gazette's competence gives us a
unique opportunity to further develop ourselves. We
will now also be able to get involved in projects at
an earlier stage than we do as a sub supplier - which
will benefit both our existing and new customers,
says Martin S. Hansen, entrepreneur and CEO of Visual
Funk.
For further information, please contact
Kristian Enger, CEO Itera Gazette
Tel + 47 23 17 99 01
Mobile +47 930 91 111
Arne Mjøs, CEO Itera ASA
Tel +47 23 00 76 50
Mobile +47 905 23 172
About Visual Funk
Visual Funk was established in 1999 by Martin Smestad
Hansen. The company has extensive experience with
digital productions for customers such as Telenor,
Audi, Shell and Stabburet. Visual Funk specializes in
interaction design and development of
digital communication and user experience. Largest
owner is entrepreneur Martin Smestad Hansen who is
also the company's CEO.
About Itera Gazette
Itera Gazette is a complete supplier of communication
services with a natural weight in the digital
surfaces. The company has extensive consulting and
production expertise in the digital value chain.
Along with the rest of the Itera group the company
delivers large complex web solutions, interactive
campaigns, social media, digital dialogue marketing,
web design, e-commerce, and keyword marketing. The
company works with some of the largest private and
public actors. Itera Gazette has with this
acquisition just under 50 employees.
About Itera
Itera designs, builds and manages innovative digital
solutions and services to Nordic based businesses
where smart use of information technology is a key
driver to achieve business goals. The group shall be
the best supplier in driving rapid conversion of
business opportunities for web-centric businesses and
information workers. Itera's customers are strong
Scandinavian businesses such as bank and insurance,
telecom, media and high-tech, public sector and
health. Itera consists of about 375 employees working
in offices in Norway, Sweden, Denmark and Ukraine.
The company is listed on the Oslo Stock Exchange.