Exsitec Takes a Big Step Forward on its Growth Journey

Standout’s portfolio company Exsitec started the year with a splash. It completed its fifth acquisition since joining the Standout portfolio in August 2017. On January 7, Millnet BI, a specialist in business intelligence and corporate performance management became a part of the fast growing Exsitec family. Millnet had revenues of MSEK 82 and an EBITA of MSEK 16 in its last financial year.  

“The acquisition of Millnet BI significantly strengthens Exsitec’s market position in Business Intelligence and Corporate Performance Management, specifically around the tools QlikView, Qlik Sense and Planacy. The company also has the same business model as us with a significant share of recurring revenue from software, which has created good and stable profitability. Together, we will continue to offer new and existing customers the opportunity for data-driven decision-making and first-class budgeting and forecasting” says Johan Kallblad, CEO of Exsitec.

The growth journey together with Johan and his team has been exciting and successful so far. Exsitec has grown revenues by around 30% per year since our investment while maintaining strong profitability. This is a great testament to the company’s strong culture and business model.