1 June 2021 EG completed their acquisition of the Norwegian SaaS company, Front Systems AS, for an undisclosed amount. EG thereby strengthens its position as a preferred partner of digital solutions for the retail industry in the Nordic region.
With the acquisition of Front Systems AS, EG is strengthening its existing range of IT solutions for the retail industry with a user-friendly cloud-based solution for stores and retail chains. The solution will complement EG’s existing solutions for larger retail chains in the Nordic region.
In the Front Systems solution, all sales channels are combined in real time, enabling all store employees to deliver seamless in-store shopping experiences.
"With the acquisition of Front Systems, EG is now one of the strongest and most experienced suppliers of digital solutions to the retail industry in the Nordic region. We want to engage the whole market and strengthen our position significantly within e.g. the fashion sector. The company culture at Front Systems is unique and very well suited to EG. We look forward to working closely with Front Systems in the future," says Erik Tomren, Executive Director of EG Retail.
Marius Lindholt, CEO of Front Systems, is excited to be a part of EG.
"EG is a solid and recognized player in the Nordic market, and they support Front Systems' vision. With its in-depth expertise from the industry, and not least in technology, EG will make a very positive contribution to the further development of Front Systems. With EG as owner, we will have access to expertise and resources that enable us to further accelerate innovation and development, and thereby maintain our position as one of the most innovative players in the market. Front Systems has established itself in Denmark, and we look forward to further growth in the Danish market together with EG."
With the acquisition of Front Systems, EG Retail will have 190 employees delivering solutions to more than 500 customers with over 8,000 stores in more than 20 countries.
Aabø-Evensen has together with DAHL Advokatpartnerselskab (Denmark) acted as legal counsels to EG in connection with the transaction.
To view EG's complete press release, please click here.