Knowit AB is acquiring 100 percent of the consulting and services company Milso AB, which provides services in technology, management, and IT with a focus on clients in the defense sector. Knowit has for many years been a key player in both the military and civil defense space, working closely with the Swedish Armed Forces, the Swedish Defence Materiel Administration (FMV), and the defense industry. This acquisition strengthens that position even further.
The deteriorating security environment, Sweden's NATO membership, and increased focus on defense within the EU - combined with rapid technological advancement - are all accelerating the need for robust digitalization. Continued digitalization and modernization of total defense infrastructure is a crucial success factor, where public and private actors must collaborate. Knowit and Milso already share some clients, and now have the opportunity to deepen those partnerships while also enabling larger and more complex assignments through their merger.
"We are very happy to welcome new colleagues from Milso to the Knowit Group. We see great potential to strengthen our position within the defense sector. With Milso's long-standing experience and deep expertise in the industry, we are creating a broader footprint and becoming an even stronger partner for our clients," says Per Wallentin, CEO of Knowit.
Milso was founded in 2006, and a large portion of its employees have a background in the defense sector, which also represents the company's largest area of operations. The company holds several long-term framework agreements with, among others, FMV, and its assignments include work in areas such as the Gripen aircraft, electronic warfare, and combat vehicles - all requiring extensive experience and specialized knowledge.
"Over the years, Milso has built a unique position based on our employees' expertise, our long-term contracts, and our projects within the defense sector. Given the current security climate and growing demand in total defense, we've seen a need to expand our capabilities and develop Milso based on new circumstances. Knowit's vision to offer the market's leading expertise in technical consulting for the defense sector allows us to further grow the company and create new development opportunities for our team," says Kristian Hammar, CEO of Milso.
The acquisition of Milso AB is expected to be completed during the third quarter, and the business will be integrated during the autumn into Knowit's existing operations serving the defense industry.
Financial Information:
· Enterprise value amounts to SEK 47 million, covering 100% of the company's shares.
· A potential additional consideration may amount to a maximum of SEK 4 million, depending on specific commercial conditions.
Contact
Carin Strindmark, Affärsområdeschef Knowit Insight, 070-366 67 17 or carin.strindmark@knowit.se
Marie Björklund, CFO Knowit, 070-144 98 02 or marie.bjorklund@knowit.se
Christina Johansson, Kommunikationschef Knowit AB, 070-542 1734 eller christina.johansson@knowit.se
Kristian Hammar, VD Milso, +46 76 119 9960 or kristian.hammar@milso.se
About Knowit
Knowit are digitalization consultants with a vision to create a sustainable and humane society through digitalization and innovation. Knowit supports its clients in the digital transformation and stands out among other consultancy firms through its decentralized organization and agile work methods in client assignments. The operations are divided into four business areas - Solutions, Experience, Connectivity, and Insight - which offer services in bespoke system development, digital customer experiences, the internet of things, cloud, cybersecurity, and management consultancy. Competences from several business areas are often combined in client projects. Knowit was founded in 1990 and now has around 3,900 employees, mainly in the Nordic countries, but also in operations in Germany and Poland.
Knowit AB (publ) has been listed on the stock market since 1997 and is currently listed on Nasdaq OMX Stockholm Mid Cap. For more information about Knowit, please visit knowit.eu.
About Milso
Milso AB is an independent services company founded in Stockholm in the fall of 2006. The company currently has about 20 employees and offices in the Wenner-Gren Center near Sveaplan. Its business concept is to offer high-quality services and products to both the public sector and private industry. The company is built on solid financial footing with a strong commitment to quality in all aspects - both as an employer and as a service provider.
More information at milso.se.
