23.04.2021

Portfolio company Alytic acquires Utel Systems

Alytic, a portfolio company of Arendals Fossekompani ASA, today announces the acquisition of Utel Systems as part of the strategy to transform data-driven companies with unique domain expertise into scalable Software-as-a-Service companies with international potential.

CEO of Utel Systems, Frode Gorseth (left), and CEO of Alytic, Espen Zachariassen.

“The acquisition of Utel Systems fits perfectly with our growth strategy to transform data-driven companies to international Software-as-a-Service champions. Utel Systems is a leading provider of services for network monitoring and analysis, with strong domain expertise, and a solid platform for product expansion and international scalability,” says Espen Zachariassen, Chief Executive Officer of Alytic.

Arendals Fossekompani portfolio company Alytic has entered into an agreement to acquire 97.5 per cent of Utel Systems. Utel Systems is a provider of services for telecom network monitoring and analysis, in addition to protocol analysis and simulation services. Utel Systems serves telecom carriers, fixed and mobile network operators, service providers, wholesale suppliers, intelligence services, police security services, the military and authorities.

“Utel Systems is a well-run company with dedicated professionals, who have built a leading position over two decades. The company is well positioned to accelerate the international expansion strategy leveraging on the leading product offering and tier-1 customer base. Alytic and Arendals Fossekompani have a proven track-record of developing data-driven companies through a Software-as-a-Service business model that facilitates fast global growth. This is what we did with Volue. Utel Systems represent another high-potential company that fits perfectly to our portfolio”, Zachariassen adds.

Alytic initiated its growth strategy by acquiring Kontali, a leading knowledge-based consultancy and data provider for the Norwegian fish farming industry, in October 2020. The target is to acquire three to four companies per year going forward.

“We are excited to be part of the Arendals Fossekompani family, and supported by Alytic, Utel Systems will accelerate our growth strategy to leverage on our strong domain expertise, product platform and position within the telecom network industry. We have identified a number of international expansion opportunities and look forward to the next phase of the Utel Systems journey,” says Frode Gorseth, CEO of Utel Systems.

For further information, please contact:
Espen Zachariassen, Chief Executive Officer of Alytic AS, +47 480 35 380
Frode Gorseth, Chief Executive Officer of Utel Systems AS, +47 412 13 184

About Alytic | www.alytic.com

Alytic invests in data-driven companies with a clear potential for scaling up the business through digital transformation. Investments will typically be in companies with unique domain knowledge and expertise, and with a clear pathway for growth. Alytic offers resource with the right know-how and skillset for developing a roadmap for digital transformation, scale and recurring revenues. The investment team includes executives with extensive experience from digital transformation and development of new business models. Alytic powers the digital transformation required to enhance product offerings, to reach new markets, and to ensure recurring revenues from a profitable customer base. Alytic is fully owned by Arendals Fossekompani, a green-tech investment company with a substantial financial capacity and decades of successful value creation.