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XACCT Accounting AS becomes part of ECIT. Company announcement No. 67

Written by Iselin Paulsen
Mar 31, 2022 10:00:00 AM

ECIT is acquiring 100% of the shares in XACCT, while management reinvests 18%.
The acquisition has been settled in cash.

“We are pleased to welcome XACCT into the ECIT family. Originally a spin off
from KPMG, XACCT delivers high quality Accounting and Payroll services based on
a strong technology fundament. XACCT strengthens ECIT’s position to serve medium
to larger customers with a highly qualified offering” says Peter Lauring, CEO
in ECIT.

The combination of XACCT and Norian (acquired by ECIT in 2021) will form one of
the largest X-ledger partners in Norway.

 

About XACCT Accounting AS

XACCT has a 2021 revenue of 49.8 MNOK and appr. 40 employees who serve a large
portfolio of national and international customers. XACCT serves customer
subsidiaries in 23 countries.

XACCT provides Accounting and Payroll services based on Xledger ERP, Microsoft
ERP and other cloud-based ERP solutions. XACCT offers a portfolio of high-end
solutions to a wide range of customers within technology, banking, finance,
insurance and retail, including national companies and international
subsidiaries.

Read more at: https://www.xacct.no


About ECIT

ECIT was founded in 2013 and supports a large customer base with Accounting,
Payroll and a broad range of IT services and solutions. ECIT has a well-proven
model for acquisition and integration, ensuring proximity to customers and local
entrepreneurship combined with the strength of being a larger international
group. ECIT has a proforma revenue (2021) of 2.55 billion NOK and +2,200
employees across 10 countries. M&A has been a driver of the Company's growth and
ECIT has completed more than 125 acquisitions since 2013.

Read more at: www.ecit.com

 

Iselin Paulsen

Iselin is Head of communication and media relations in ECIT Group, and assists with Investor Relations. Iselin is passionate about improving Nordic competitiveness through stronger emphasis on competencies, innovation and sustainability across private and public sector.

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