The French telecom giant Orange has bought all the shares in the Norwegian IT company Basefarm Holding for NOK 3.3 billion, Orange stated in a press release on Monday morning.
Dagens Næringsliv writes that the acquisition company Abry Partners made a profit of approximately 2.6 billion kroner on the sale to Orange, as they bought Basefarm in 2012 for NOK 700 million.
The IT company develops online cloud and big data solutions, and operates in Norway, Sweden, the Netherlands, Austria and Germany. The company was founded in 2000 and has around 550 employees.
Last year, they traded for NOK 868 million, but ended with a loss of 54 million before taxes.
Orange is a global brand name used by France Telecom’s activities in the field of mobile telephony and internet services. The acquisition of Basefarm will be completed according to plan in the third quarter of 2018, given that it is approved by relevant competition authorities, writes Orange.
© NTB scanpix / #Norway Today