Danish KMD acquired by American Advent International
KMD acquired by Advent International
KMD A/S (Ballerup, Denmark) has been acquired by Advent International, [“Advent”] (Boston, MA, USA), the global private equity firm, following the approval of the transaction by relevant regulatory authorities.
Fred Wakeman, managing partner of Advent International said, “KMD is a robust, well-run provider of IT solutions for the Danish market. We look forward to working with the management team to develop the company in Denmark. At the same time, it will be natural for KMD to continue its activities in positioning the company’s IT solutions in the international market”
Léo Apotheker
Commenting on his appointment, Léo Apotheker said, “I’ve been following the company for some years, not least through SAP’s close collaboration with KMD. I know KMD’s management, and together with them I look forward to further developing KMD’s strong market position”
Lars Monrad-Gylling, CEO, KMD
Looking forward to the new collaboration, CEO Lars Monrad-Gylling said, “We have an exciting journey ahead of us. We have a good team on the new board which will help to develop KMD and further realise our potential. We’re getting more international experience with the new owners and our new chairman of the board. This will help to strengthen KMD”
KMD is the largest Danish-based IT company. The majority of KMD’s business derives from its own software development. For the last 40 years, KMD has developed, operated and maintained the largest IT systems in the Danish local governments. KMD develops and delivers software and service solutions to the local government, central government and private markets in Denmark. Among other things, the systems handle payment of salaries and welfare benefits, and every year KMD’s software systems calculate and pay out more than DKK 400 billion. This is equivalent to around 25% of Denmark’s GDP. KMD’s software systems also handle everything from the administration of schools and utility companies to the running of Danish parliamentary elections. Recently, KMD began digitising major areas ‒ from municipal primary and lower-secondary schools to home care ‒ with new technology. KMD has annual revenues of more than DKK 4 billion and employs around 3,400 people. Read more at www.kmd.dk.
