EVRY acquires Findwise to expand its capabilities in Cognitive Analytics and Enterprise Search
Findwise employs 120 data scientists and specialists who create solutions for Nordic blue-chip customers through long-term relationships and recurring business and operates as a vendor-independent company that supports its customers to choose the right platform based on their needs. Findwise offers a proven methodology, its own framework Findwise i3, and expertise in identifying, analysing and acting upon information.
Technology built on artificial intelligence and robotics has evolved to become the foundation for businesses to fundamentally transform themselves. What this means for customers is that decisions can be made more quickly and accurately with support from advanced predictive analysis, as well as processes becoming more automated.
“By combining our strengths, we will become a driving force in the attractive market of advanced search, advanced analytics, AI and big data. Our customers will gain access to scalable systems capable of understanding, reasoning and learning from data, which will be provided with a standard interface, implementation methodology and best practice. Using search-driven cognitive analytics delivered by EVRY and Findwise, we will provide customers with services that will help them to be even more relevant in the digital age”, comments Björn Ivroth, CEO of EVRY.
“Findwise has for more than a decade been working with methodology and expertise regarding the use of artificial intelligence in relation to extensive and unstructured data sets. Leveraging EVRY`s strong customer base and the capabilities of the Strategic Design Lab, we will be able to unleash our full potential. With a continued focus on all types of information challenges and possibilities, we aim to provide customers with more precise insights and quickly improve business outcomes”, comments Catarina Gunneberg, CEO of Findwise
About the transaction
Findwise has offices in Stockholm, Gothenburg, Copenhagen, Warsaw. As part of the Nordic expansion they recently opened an office in Helsinki. Founded in 2005, Findwise has been recognised as one of the Best Workplaces, Great Places to Work in Europe, and a fast-growing “gazelle” company for three consecutive years.
The combination of EVRY and Findwise offers significant top-line synergy potential across different areas within EVRY and adds strategic near-shore capabilities in Poland (EU) through the Findwise Warsaw office. Moreover, the transaction offers a step change in initiating EVRY’s Cognitive Analytics strategy in the Nordic region through enhanced capabilities in advanced analytics and deepens our strategic partnerships with leading vendors such as IBM, Google and Microsoft in this area. Furthermore, EVRY will be able to scale and develop its digital business offering in Cognitive Analytics with its proprietary and technology agnostic framework, Findwise i3.
On the basis of its new capabilities EVRY, will be able to accelerate its development of new industry-specific solutions such as APIs for financial services, the public sector and healthcare sector, retail and logistics-, and the automotive industry.
In 2017 Findwise achieved revenue of SEK 106.7 million and an EBITDA of SEK 9.9 million.
About EVRY ASA
EVRY is one of the leading IT service and software providers in the Nordic region and has around 10,000 customers across the private and public sectors. Every day more than five million people in the Nordic region use solutions delivered by EVRY. Through its strong local presence and in-depth technological and commercial insight, EVRY is a driving force for innovation and modernisation at its customers. EVRY reported turnover of SEK 12.6 billion in 2017 and has around 8,500 employees across eight countries. Its headquarters are located at Fornebu just outside Oslo, and the company is listed on Oslo Stock Exchange. www.evry.com
About Findwise AB
Findwise was founded in 2005 and have several more than Nordic blue-chip customers across the Nordic region. With 120 data scientists and specialists, Findwise improves business outcomes for customers by creating solutions for search-driven and data-driven decisions. Findwise has partnerships with all the leading analytics and big data companies and provide expert consulting services for platforms such as IBM Watson, Splunk, ThoughtSpot, Solr and Elastic.www.findwise.com