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Advent buys Danish IT company KMD from EQT, pension fund ATP

15 Oct 2012

Advent International has agreed to buy Danish IT and software company KMD from fellow buyout house EQT and pension fund ATP.

The company, which focuses on products for critical public sector services in Denmark, had revenues of about $740m last year.

KMD becomes Advent’s only Danish portfolio company. It had previously exited an investment in broadband internet and data services provider Cybercity to Telenor in 2005.

Nordic-focused EQT and ATP bought the company three and a half year ago.

EQT partner Morten Hummelmose said, “KMD has undergone a very positive transformation with EQT V as owner.

“Revenue has grown, the organisation has been strengthened and its processes have become more efficient.

“KMD’s products and services have been adjusted to customer preferences and the competitive environment today.

“The management team and its staff have done a remarkable job, and KMD has emerged into a much stronger company.”

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