Braathe sold to iteam

With the sale to iteam, Braathe has not only achieved its founding vision of creating a robust 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 IT operations and services provider. Through strategic vision and six successful acquisitions between 2016 and 2021, Braathe’s revenues have grown from NOK 125 million to NOK 500 million.

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 provider of IT services to small and medium-sized enterprises (SMEs) in Norway.

Stratema’s financial and strategic expertise has been instrumental, driving Braathe’s acquisitions and resulting in a near fourfold revenue increase. Our guidance was also instrumental in evolving Braathe’s service offerings, with subscriptions now accounting for 70% of its revenues—a crucial element in establishing a scalable and profitable growth model.

A New Chapter

Following the untimely passing of the company’s CEO in 2023, the owners sought new avenues for bolstering the company’s future.

Unleashing Synergies for Future Growth

Its integration with iteam makes Braathe part of a single, unified entity, which leverages diverse strengths to form a genuinely national IT operations champion. The combined entity brings expanded geographical reach, delivering enhanced services to its 10,000 customers. This merger creates a company with a robust, future-focused platform, positioning it as a top IT services provider in Norway.

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

The CEO of Braathe, Hans Albert Nilsen, is profoundly proud of joining up with iteam: “This transaction gives us access to new resources and capabilities that will strengthen our ability to provide our customers with seamless IT services. As part of iteam we will be able to offer a broader range of services, ensuring market-leading technological support for our customers.”

About Braathe

Braathe is a leading managed service provider characterised by exceptional technical insight and innovative products, drawing on decades of experience. Braathe ensures a seamless IT experience for its customers, hosted primarily from its state-of-the-art data centre at Rygge. With its geographical reach extending throughout Norway, Braathe provides unparallelled service and support to both the private and the public sector.

About iteam

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

This acquisition is part of iteam’s long-term strategy of becoming a leading global technology provider. Both companies share a joint vision of maintaining a local presence while delivering secure and innovative IT solutions to businesses throughout Norway.