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ZetaDisplay acquires Nordland Systems – successful entry to the German market

Written by Customer Service on . Posted in Public Companies.

Malmö-ZetaDisplay AB (publ) (Nasdaq Stockholm: ZETA) acquires NORDLAND systems GmbH with preliminary net sales for 2020 of SEK 78.4 million, SaaS revenues of SEK 16.4 million and an EBITDA of SEK 6.4 million. Nordland concluded a strong growth in 2020 with several larger project deliveries. The company has an annual SaaS revenue running rate in the range of 25-30%. The acquisition is a decisive step for ZetaDisplay towards reaching its financial targets for 2022 of 200 MSEK in SaaS revenues, currently at SEK 160.3 million. NORDLAND systems GmbH is a leading German integrator and will be part of ZetaDisplay with effect from 4 March 2021.
On a proforma basis, ZetaDisplay shows annualized nets sales of SEK 444.6 million, an EBITDA of SEK 44.8 million and SaaS revenues of SEK 176.7 million equaling to 39.8% of net sales. “We are proactively driving the consolidation in the European market for Digital Signage. We are the leading player in the Nordics and number 2 in Europe. The entry to the German market broadens our platform to fulfil our growth ambitions, both organically and through further acquisitions”, comments Per Mandorf.“We have set our eyes on the German market for a while”, says CEO Per Mandorf. “Germany is the single largest European market, and we were looking for a leading player with a strong market position. NORDLAND systems has a strong standing paired with an attractive customer portfolio matching our capabilities to serve”, Mandorf adds.“We made a strategic decision to secure our market position by teaming up with an international experienced full-service partner. We scanned the market and arrived at ZetaDisplay as ideal partner combining a similar entrepreneurial culture and values as well an appealing customer portfolio with an attractive concepts and software offer”, comments NORDLAND systems Managing Director Thomas Käselau the deal. “We have already today a well-working day-to-day business relationship fulfilling installations for international ZetaDisplay customers”, concludes Thomas Käselau.Transactional details

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