IT Intergroup plans IPO on the OMX Nordic Exchange  

2007.08.21
Denmark's IT Intergroup plans an IPO on First North, an alternative marketplace for small growth companies and part of the OMX Nordic Exchange
IT Intergroup, a Danish consultant company offering services in identity and access management, plans an IPO on First North, an alternative marketplace for small growth companies and part of the OMX Nordic Exchange. The proceeds will be used to build a sales channel for Fastpass, a software product developed by IT Intergroup which makes it easier for companies to automatically give staff access to their IT systems without having to remember a large number of passwords.
 
Jesper Østergaard, managing director of IT Intergroup says: "We could continue moving in first gear, but we have the product in place and know there is a substantial need and major business opportunities by making a more rapid roll-out. It requires however that we gain more capital and so we are planning an IPO."
 
"The North American market clearly represents one of the greatest opportunities for us. We will use part of the proceeds to recruit suitable sales people who can mobilise partners around the world, including the US," says Østergaard.
 
IT Intergroup has spent DKK 10 m (USD 1.8 m) on developing Fastpass software, which will be supplied as an internet service that end users pay to use, without the software needing to be installed in customers' own IT systems. The news was reported by financial daily newspaper Børsen.

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