Cubit sold to EG

Since its inception in 2017, Cubit has grown to become the Norwegian market leader on business-critical software for the planning, implementation and documentation of inspections and surveys for utilities and fire services.

The company’s cloud-based platform supports the entire inspection process – from planning and digital checklists in the field to reporting and non-conformance management – and contributes to enhanced safety, regulatory compliance and operational efficiency.

“Cubit is precisely the type of specialised software that has been missing from our portfolio. I look forward to working closely with the Cubit team and provide even better solutions for customers that need their inspection requirements to be met every single day,” says Henri Brorson, SVP Quality & Asset Management at EG.

The choice of EG as its new owner represents a strategic partnership for Cubit. EG has a strong position as a software provider to both the utilities sector and the municipal sector in the Nordics. All in all, this offer scope for further product development, cross-selling and geographical expansion.

As part of the transaction, Stratema assisted Cubit on its acquisition of the Lithuanian development company Asteroid Mining Company (AMC). AMC has been a closely integrated and strategically important provider of development capacity to Cubit for several years. The acquisition boosts Cubit’s internal development resources and ensures long-term control over critical technological expertise in its continued development, in tandem with EG.

Cubit’s shareholder base has comprised founders, individuals and institutional investors, including Volue Technology, Wiski Capital and Hawk Infinity. Stratema devised a structured process that has resulted in a transaction that safeguards the interests of investors, founders and management.

We would like to thank the Cubit owners for their trust and excellent collaboration, and wish both Cubit and EG every success in their future partnership.

“We built Cubit for the professionals who carry out inspections in the field – from planning tasks to following up on non-conformities. As part of EG, we can develop the product more rapidly and reach customers we couldn’t reach on our own,” — Arild Soldal, CEO and co-founder, Cubit.

About Cubit:
Cubit AS is a Norwegian technology company headquartered in Bergen, with 27 employees. The company provides market-leading, cloud-based solutions for inspection, supervision and public safety to local authorities, utilities and fire services.

About EG:
EG is a leading Nordic provider of industry-specific software to the public sector and selected private industries. The company develops and provides solutions that support business-critical processes, with a clear focus on domain expertise and long-term customer partnerships.