Netcompany, a Copenhagen-based IT services company, has agreed to acquire Danish banking solutions provider SDC for approximately $140 million (DKK 1 billion).Netcompany acquires banking solutions provider SDCThe all-cash deal, expected to close in Q2 2025 after regulatory approvals in Denmark, Norway, and the Faroe Islands, will be financed through Netcompany’s existing credit facilities.Netcompany says it will make the acquisition “through a newly formed company – Netcompany Banking Services A/S – which will be merging with SDC and as a consequence resulting in a fully owned subsidiary of Netcompany in which the activities of SDC are fully embedded”.Founded in 1963 and headquartered in Ballerup, Denmark, SDC delivers a range of banking tech solutions for financial institutions across the Nordics, including its flagship core banking system.With the transaction, the parties aim to create “the banking platform of the future” by combining SDC’s core banking tech with Netcompany’s expertise in data analytics, digital transformation, and “knowledge of AI,” according to an SDC statement.Netcompany’s CEO André Rogaczewski explains the company “already provides the digital foundation with our products and platforms in the areas of pension, tax and customs, transport and logistics, and now we are going to do the same in the financial services industry”.The acquisition of SDC expands Netcompany’s growing portfolio, which also includes Netcompany-Intrasoft, which was formed following Netcompany’s acquisition of European IT solutions and services group Intrasoft International in 2021 for €235 million.
Mer. Feb 12th, 2025
