NNIT enters strategic agreement with Indian IT company  

Denmark's NNIT has entered a strategic agreement with India's Satyam; a move which makes the company an obvious acquisition candidate says Børsen

NNIT, an IT company owned by Denmark's health care group Novo Nordisk, has entered a strategic outsourcing agreement with India's Satyam, a global leader in SAP solutions. The agreement is part of NNIT's strategy to expand its business in the Nordic region. The company has also established a Swedish sales team and entered agreements with several foreign pharmaceutical customers including Orion Pharma in Finland which will offer all its IT consultancy assignments exclusively to NNIT in the future.

According to financial daily newspaper Børsen which reports the news, NNIT has positioned itself so well in the market that it is an obvious acquisition candidate, although the company has not been put up for sale. Several investment banks are reportedly showing an interest in NNIT. The price is thought to be in the region of DKK 2 bn (USD 340 m).

Karsten Fogh Ho-Lanng, senior analyst at IDC comments: "The fact that NNIT now is expanding its business and positioning itself strategically, enables the business to develop organically. But it also makes the company attractive in a sales process."

NNIT is headquartered in Copenhagen and employs approx. 860 people. In 2005, the firm generated revenues of DKK 890 m (USD 151 m), an 11% rise on the previous year, while profit before tax amounted to DKK 105 m (USD 17.9 m).

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