Braathe sold to iteam

With the sale to iteam, Braathe has not only achieved its founding vision of creating a solid platform for customers and employees, but has also become a key player in Norway’s largest and most comprehensive IT operations environment. This partnership lays the foundation for unparalleled growth and innovation.

Since Stratema began collaborating with the Braathe family in 2016, we have been working towards a long-term goal of building a national, market-leading player in IT operations and services. Through strategic advice and six successful acquisitions between 2016 and 2021, Braathe’s revenue has grown from 125 MNOK to 500 MNOK.

This growth is more than financial—it marks a fundamental transformation in Braathe’s service portfolio. The company has transitioned from being primarily focused on one-time product sales to becoming a leading provider of subscription-based solutions. This shift has positioned Braathe as the foremost supplier of IT services to small and medium-sized businesses (SMBs) in Norway.

Stratema’s expertise in financing and strategic direction has been instrumental, driving Braathe’s acquisitions and resulting in a near fourfold increase in revenue. Our guidance also helped Braathe evolve its service offerings, with subscription revenue now making up 70% of its income—a crucial element in establishing a scalable and profitable growth model.

A New Chapter

Following the unexpected passing of the company’s CEO in 2023, the owners sought new ways to further strengthen the company’s future.

We focused on finding a strategic partner who could bring valuable expertise and complement Braathe’s existing service portfolio. During this process, iteam emerged as the natural choice, with a company culture and customer philosophy that mirrored Braathe’s own values.

Unleashing Synergies for Future Growth

With the integration of iteam, Braathe is now part of a single, unified entity, combining strengths to form a truly national leader in IT operations. Together, they will expand their geographical reach and deliver enhanced services to their shared 10,000 customers. This merger creates a company with a robust, future-focused platform, positioning it as a top provider of IT services in Norway.

The operational and strategic synergies between Braathe and iteam are unique in the Norwegian IT sector, laying the groundwork for continued growth and innovation.

We are incredibly proud of the journey we’ve been on with Braathe. This new chapter marks the beginning of even greater achievements, and we are excited to see what the future holds for the company and its customers.

iteam is one of Norway’s fastest-growing IT companies, with 400 employees spread across 40 offices, from Svalbard in the north to Kristiansand in the south. Braathe has 10 offices and 150 employees across the country, and together, the companies are projected to generate 1.7 billion NOK in revenue in 2024.

This acquisition is part of iteam’s long-term strategy to be a leading provider of global technology. Both companies share a common vision of maintaining a local presence while delivering secure and innovative IT solutions to businesses across the country.