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Ge.tt acquired by Keepit A/S Tuesday, January 13th, 2015
Ge.tt is a real-time file-sharing service that works with all types of files, and because of the ease of use, is used by millions of people worldwide. No software or registration is required to use the service. "Ge.tt is the perfect match for our Keepit NextGen solution that combines backup, searching and sharing," says Frederik Schouboe, Managing Director of Keepit.
Ge.tt was originally developed in Denmark by Tobias Baunbæk and Mathias Buus Madsen, and was bought by e-conomic international in 2013. Since its inception in 2010, the file-sharing service has had a global impetus, which until now has resulted in over 3.5 million users using the service to share more than 48 million files.
e-conomic Focus on Core Business
At e-conomic international, who is among the world's leading providers of cloud-based accounting systems for the SME market, has chosen to divest Ge.tt to concentrate on the core business.
e-conomic is working on an international growth strategy. "We are therefore streamlining the business and focusing 100% on what we do best, namely providing accounting programs for entrepreneurs and SMEs," says Jes Tækker Stemann Brinch, Director of Business Development at e-conomic international./p>
Advisory firm BDO was responsible for the sale of Ge.tt for e-conomic. And despite strong interest from abroad, BDO easily found the best match with Danish Keepit A/S. The two technologies are synergistic and Keepit has a strong backend framework to develop Ge.tt in the future.
"here has generally been decent interest from the market to take over Ge.tt - especially as a result of the file-sharing company's user-friendly platform and about 3.5 million current users. Interest in buying Ge.tt particularly came from abroad, but in the end it was Danish Keepit who came with the best offer," says Jakob Sand, partner in BDO's Corporate Finance department, which is one of Denmark's leading consultants in the sale of IT companies.
The parties have agreed not to disclose the purchase price.
About Keepit A/S
Keepit A/S is a leading online backup and storage service, and is part of the Cohaesio Group – owner of Surftown web hosting. Cohaesio Group services over 25,000 businesses and manages more than 250,000 domains. Cohaesio Group is headquartered in Copenhagen, with a development center in Lviv, Ukraine. More than 100 great employees are behind the success of Cohaesio Group.
About e-conomic international
e-conomic international A/S is among the world's leading providers of cloud-based accounting systems for the SME market. The company currently employs more than 220 people, and has 105,000 customers using the online accounting system e-conomic, and more than 265,000 registered users who use Debitoor - an online "freemium" accounting solution targeting freelancers and sole practitioners.
BDO Corporate Finance advises clients professionally through the entire process of selling or buying companies. BDO offers clients access to both a strong domestic network and also access to BDO's international network with more than 66,000 employees, including 1,200 specialists in Corporate Finance.