TimeXtender sold for more than 500 mill. dkk.

After many years of hard work and more than 200 mill. dkk invested, TimeXtender has been sold to a Swedish equity fund for 500 mill. dkk.

The deal, among other things, took place on the basis of TimeXtender's chairman of boards Torben Frigaards knowledge of the private equity fund Monterro.  

TimeXtender is a leading software company in data management and builds software on solutions that, across systems, make it easier for organizations to collect and utilize business data to make better decisions.

Monterro specializes in developing Nordic software companies into global players, and therefore the choice to but TimeXtender was right up their alley.

"I have been involved in selling several companies, but this is one of the ones I am most happy with. It is not always easy to sell a growth company that makes zero profit, but will make profit in the future." - Torben Frigaard Rasmussen. 

Read the full article in Business Fyn by pressing here.