Danish IT services provider Netcompany has finalized an agreement to acquire the local banking technology firm SDC for approximately $139 million.
The transaction, scheduled to be completed by mid-2025, will be executed through a newly established entity, Netcompany Banking Services, which will allocate DKK 1 billion in cash to SDC’s shareholders.
This strategic acquisition is expected to enhance Netcompany’s position in the financial services sector, which is the largest consumer of IT services across Europe. By integrating SDC’s core banking platform with its own technology suite, Netcompany aims to provide financial institutions with advanced tools that facilitate personalized advice, self-service options, and streamlined digital processes for customer onboarding and housing-related transactions.
André Rogaczewski, CEO of Netcompany, stated, “By merging SDC’s core banking capabilities with our innovative technology and platforms, we are poised to unlock unparalleled opportunities for the entire banking industry.”