STOCKHOLM, May 4, 2023 /PRNewswire/ — Lyvia Group, the European tech and software services group, has acquired T-rank AS, a Norwegian company that assesses the ownership structures of companies and their clients on behalf of the world’ s leading banks, law firms, large corporate and government institutions.
The acquisition places Lyvia at the forefront of the fast-growing ‘know your customer’ and client identification market and provides T-rank with the funds and network it requires to further expand its existing global client base.
T-rank’s proprietorial software analyses beneficial ownership and controlling interests in companies with complex ownership structures, reflecting the demand for more visibility at a time when corporate ownership and client identification has become increasingly opaque.
Seven of the world’s 10 largest banks and five of the six largest Nordic banks already use T-rank’s software and the company has reported annualised growth of 27 per cent for the last three years, with annual recurring revenue of around 90 per cent of turnover.
“No other software in the market offers a similar service,” said Sebastian Karlsson, CEO of Lyvia Group. “T-rank’s clients need to know who owns what. Increased transparency is a pathway to better and safer compliance in a complex regulatory environment.”
Arne Petter Omholt, CEO and Founder of T-rank, said: “As our results prove, the ownership and client identification market has shown consistent growth and is expected to continue expanding strongly. This deal paves the way for the next phase in our growth story.”
ABOUT T-RANK:
The Norwegian company was founded in 2006 and is headquartered in Oslo. The company reported a turnover of NOK 21.7 million and EBIT of NOK 15.2 million for the financial year 2022. Read more about T-rank here: https://trank.no/
ABOUT LYVIA GROUP:Â
Lyvia was launched on April 18 after two leading companies in the business-to-business tech and software services sector were brought together.
The collaboration brought Lyvia immediate scale and credibility, with a pan-European group of 35 specialist companies in software and expert services, digital marketing, creative consulting and software-as-a-service.
With around 1,500 dedicated professionals, offices across Europe and pro forma FY2022 revenues of approximately SEK2bn, Lyvia entered the European market as one of the biggest and strongest performing companies in its sector. Â
The company not only owns and manages brands, but also seeks to enhance collaboration between the companies in which it is involved. This includes operational and financial synergies as well as access to an ecosystem of like-minded entrepreneurs.
Lyvia brings specific skills to the European market that differentiate it from its competitors. It has been founded and run by entrepreneurs, forming an immediate bond with the companies with whom it seeks to partner.
Lyvia is seeking to list on NASDAQ OMX in Stockholm within the next 12 to 18 months, depending upon market conditions.
Read more about Lyvia Group here: https://lyviagroup.com/
FOR MORE INFORMATION, PLEASE CONTACT:
Tarjei Unneland, M&A Director Lyvia Group, at tarjei.unneland@lyviagroup.com
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