NOK 300m set aside to fuel expansion and drive growth of world’s largest independent Cloud Economics business
Today is a proud moment for the whole Crayon team, from our founders who set up the business back in 2002, to each and every one of our 1,100 teammates working across three continents and 21 locations worldwide today.
Our listing on Oslo Børs marks the next step in the evolution of the Crayon business and will enable us to accelerate our focus on driving value for our customers, partners and teammates as we continue our mission to help international industry and commerce optimise investment in complex technology.
It marks a significant achievement for the business that we have reached this point with revenues growing from 2,047 NOKm in 2012, to 6,015 NOKm in 2016. Indeed, during the past five years we grew by a remarkable compound annual growth rate of 31% and now provide services to over 81% of the global addressable IT market. In that time, we more than doubled the number of teammates as NOK 280m (€30m) was invested in new intellectual property and growth.
This significant geographic expansion has been driven both organically and through acquisition and has led to Crayon developing deep relationships with all the major global software publishers. We are one of Microsoft’s top ten global managed partners and last year helped the Redmond firm generate $1Bn USD. In 2017, Crayon also became one of only three global Microsoft GDPR partners, offering data compliance and risk mitigation solutions to businesses as a natural extension to its heritage in Software Asset Management (SAM).
Following intensive investment in its own IP and consultancy business, Crayon now boasts over 60 service areas including IOT and Machine Learning, alongside its established cloud economics practice. What makes us unique in the market is that we underpin all this with our deep understanding of SAM and use that as the intelligent foundation to map out the customer’s digital transformation journey, ensuring that their technology ecosystem remains optimised.
Torgrim Takle, CEO, Crayon, says: “This is a proud moment for all of us associated with the business, one that firmly puts us on the map in terms of visibility, but that also takes us to the next level in terms of our financial flexibility to compete at the highest level in the global marketplace. It really is an exciting day for all of us and I’d like to thank everyone for all their hard work in bringing us to this point.”