Investor NewsOrigo acquires StrikamerkiMay 29, 2019

Today, an agreementt was signed for Origo hf.'s purchase of the entire share capital of Strikamerki hf.

Strikamerki is an IT company that assists businesses with their digital operations by offering solutions in the form of hardware, software, consultancy and services.

The company focuses on POS, handheld and printing solutions, including POS software, self-service solutions, cash registers, ticket sale solutions, accounting systems, handheld computers, handheld processes, wireless networks, voice control systems, positioning equipment, dimension scanners, printers, printing software, production supplies and labelling machines. The company's main customers include retails stores, warehouses, restaurants and other service companies.

Strikamerki develops and sells its own software solutions under the trademarks Snerta and SagaPOS retail systems, IceLink handheld solutions, IceLabel printing solutions and IceMonitor data management system. These product lines are currently being used by a large number of Icelandic businesses.

Strikamerki hf. had revenues of around ISK 360 million in 2018 and employs 10 people.

The acquisition is subject to the approval of the Icelandic Competition Authority.

The acquisition is expected to be completed in the third quarter of 2019.

Finnur Oddsson, CEO of Origo:

"The acquisition of Strikamerki is an exciting milestone for Origo, Strikamerki and a large group of our customers. The purpose of the acquisition is to broaden our solution offering and strengthen it in certain ways, particularly in the area of POS and technical solutions for retail and service operations, where technology is advancing at a rapid pace and customers are increasingly demanding better efficiency. We will continue to strive to service the ever-changing needs of our customers in this area even better and the acquisition of Strikamerki is an important step towards that goal."

Sæmundur Valdimarsson, Managing Director of Strikamerki:

"Strikamerki is a trustworthy IT company which for more than two decades has provided many of the largest companies in Iceland with solutions, products and services for their digital operations. Strikamerki employs a talented group of specialists who will continue to provide outstanding service to our customers. Joining Origo, one of the strongest IT companies in Iceland, presents new and exciting opportunities for Strikamerki employees.  Last but not least, this is a positive step for Strikamerki customers, as they will now have access to a 24/7 service line and will essentially be able to have all their IT needs met at one place."

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