Stockholm, Sweden and Sandefjord, Norway July 4th, 2018
–The Nordic IT hardware Life Cycle Management (LCM) service provider Xllnc announced today the signing of an agreement to acquire Timetech AS (“Timetech”), its fast-growing challenger headquartered in Norway to expand its Nordic and international presence as well as strengthen its IT refurbishment activities.
Timetech distributes a broad range of ICT equipment and related services to global enterprises. Timetech optimises the asset management and logistics of its customers by streamlining the procurement and disposal of ICT assets globally. Through its services, Timetech focuses on offering a true self-service solution for employees in large corporations with zero touch from internal IT departments. Its main logistic hubs, located in Norway, the US, Brazil and Malaysia, enable Timetech to serve its customers across more than 125 countries, acting as a true global logistic partner.
Timetech’s strong presence in Norway and global reach will strengthen Xllnc’s activities in the Nordics as well as enable the company to better support its clients throughout the globe. Timetech’s successful track record in IT End-of-Life (EoL), as well as its advanced technology platform will prove valuable in enhancing Xllnc’s internal EoL capabilities and boost its profitability. By strengthening its existing capabilities and expanding its top management expertise, Xllnc will provide its current and future customers with a more complete LCM offering. Following this acquisition, Xllnc plans to reach more than SEK 1.4bn in consolidated revenue for 2018.
“We are very excited to join forces with Xllnc to offer our customers greater value by granting them access to Xllnc’s wide portfolio of services including its industry leading Device-as-a-Service (DaaS) offering which are complementary to the services we offer today,” said Rune Haraldsen, CEO of Timetech.
“Timetech will help us scale our business rapidly and capture even more opportunities in Norway and abroad. Furthermore, this acquisition will enable Xllnc to continue to simplify the life of our clients by providing them the support they need across the globe by leveraging Timetech’s existing global delivery network,” stated Gunnar Fransson, CEO of Xllnc Group.
Stella EOC and Hansen Advokatbyrå acted as advisors to Xllnc during this acquisition.
For additional information, please contact:
Gunnar Fransson, CEO, Xllnc Group, email@example.com, +46 70 610 09 21
Rune Haraldsen, CEO, Timetech, firstname.lastname@example.org, +47 909 10 909
Xllnc’s mission is to simplify our customers’ every-day life by providing smart Life Cycle management solutions for workplace related IT assets. Through its market leading solutions, processes and systems, Xllnc manages its customers’ IT to improve control, reduce cost and minimise its customers’ ecological footprint. www.xllnc.com
Timetech focuses on optimising the logistics and the asset management of ICT assets of global enterprises. The company provides its clients with market leading ICT supply chain management solutions including global logistics, deployment services, integration, B2B portals, IT refurbishment and life cycle management solutions.