Itello increases its investments in Norway and acquires Eikos AS

Itello AB is acquiring Eikos AS as part of its international expansion. This will enable Itello to strengthen its position in the Norwegian market and, together with Eikos, offer comprehensive software solutions and strong deliverability on the Norwegian life insurance and pensions market.

Eikos have strong expertise in actuarial services, consultancy services and systems solutions for the Norwegian insurance market, which ensures good access to professional resources in upcoming projects in Norway. As part of Itello’s expansion, the Inca standard software will be adapted to meet Norwegian requirements and needs, and become Itello’s prime solution for the Norwegian market.

“The acquisition is in line with our strategy and will accelerate our international expansion. The life insurance and pensions industry in Norway will be facing a number of challenges in the coming years, which means there is a high demand for the ability to combine a highly efficient business with good innovation potential. With Eikos’ expertise we will be strengthening our competitiveness on the Norwegian market and expanding Itello’s opportunities, says Mats Lillienberg, CEO, Itello AB.”

“The acquisition of Eikos will give Itello access to expertise within actuarial skills, administration and systems development for life insurance and pensions in Norway. Eikos provides services and systems solutions to the life insurance and pensions sector in Norway and, in combination with Itello’s solutions and expertise, we will be strengthening our capacity and competitiveness considerably. Eikos will be part of a large and expanding environment that provides new opportunities and exciting challenges for our employees, says Øyvind Grini, CEO of Eikos AS.”