itm8 opens the door to Europe with German acquisition

In 2022, itm8 took its first step beyond Denmark's borders with expansion into the Swedish market. Now they are fulfilling their ambitions to grow beyond the borders of Scandinavia with the acquisition of the German company ComputerBusinessCenter.

itm8 has lit a fire under their kettle of ambition. In 2022, they grew beyond Denmark's borders with expansion into Sweden, last year they merged 13 previously separate brands into one, and now, in the first half of 2024, they are adding a German chapter to the story of their growth journey. 

itm8 has purchased the Frankfurt-based company ComputerBusinessCenter (C.B.C). The company, which has offices in both Frankfurt and Essen, has 125 employees and focuses primarily on Managed IT Services, hosting, and end-user support. 

"Just six months after we launched our vision to become a North European IT Powerhouse, we are taking the first big step out into Europe. The German market is a natural first stop in our ambition to grow, among other things through acquisitions, in Europe," explains Henrik Kastbjerg, CEO of itm8. 

First step in a series of expansions in Germany

The goal of the acquisition of C.B.C. is to get the first bridgehead into Germany, a market that has historically been regionally divided. Therefore, C.B.C. is also only the first step in a larger plan. 

"We are showing our hand, in that we plan for C.B.C. to be the foundation in itm8s central region of Germany. In addition, we have drawn a map with regions for north, south, east, and west, where we still have blank areas - and the goal is, of course, to fill out that map with new names," says Henrik Kastbjerg and continues: 

"We are not locked on what the next step will be. The most important thing for us is that we find the right match, both professionally and with the management team. It must be an organization that fits into a growth culture, where we work across both professional areas and national borders." 

Making sure 2 + 2 = 5

To ensure that both existing and future customers get the most out of the acquisition, itm8 has a dedicated department for integration and rollout of products and services across the board. The goal is to offer customers a coherent range of services that reduce the complexity of their IT setup and provide them with one place to call. 

"We look forward to being able to offer our customers far more services than we have been able to deliver to them before, but with the same proximity they experience today. By becoming part of a larger company, we gain access to far more competencies and specialists than we have been able to offer before. This gives us a whole new level to build on our existing business, while we can maintain the close relationship we have with customers today," says Marc Heyer, CEO and now co-owner of itm8. 

Being able to anchor global delivery with local presence is the basic concept in itm8's approach to the market. Among the Northern European companies, there has been a shift in the way IT is thought about in recent years, explains Henrik Kastbjerg. 

"We increasingly find that companies are looking for a single IT partner. Where they just years ago preferred to find best-of-breed services from different providers, the complexity and interconnection between the different parts of their IT setup today is so great that the advantages of a coherent suite outweigh shopping around among providers when a product gets a new, smart feature." 

The completion of the final acquisition is contingent upon regulatory approvals. itm8 expects that the approvals and the final transaction will be completed in Q2, 2024. 

About itm8

itm8 is a Northern European digital transformation partner with private and public customers in Denmark, Sweden, and now Germany. The company offers a wide range of services in IT operations and Cloud Services, Digital Transformation, Application Services, Software and Hardware, ERP, and Cyber Security. itm8 is owned by the management and the capital fund Axcel in partnership with Chr. Augustinus Fabrikker. See more at www.itm8.com. 

About C.B.C.

C.B.C. Computer Business Center GmbH was founded in 1982 in Frankfurt. Today, the company has 125 employees spread across 2 offices. C.B.C. has an annual turnover of 469 million DKK. 

C.B.C. offers services in hosting, IT consulting, software and hardware sales, setup, and end-user support. 

For more information, contact:

Søren Tang, Head of Communication, itm8 
Tlf.: +45 41 81 21 11 | E-mail: sotan@itm8.com