ECIT acquires 100% of the shares in XACCT, and the management reinvests 18%. The acquisition was completed as a cash settlement. “We are pleased to welcome XACCT to the ECIT family. XACCT, formerly a spin-off from KPMG, provides high-quality accounting and payroll services based on a strong technological foundation. XACCT strengthens ECIT’s position to serve medium-sized and larger customers with high quality in the service offering, says CEO Peter Lauring in ECIT.

With the combination of XACCT and Norian (acquired by ECIT in 2021), ECIT will be one of the largest Xledger partners in Norway.

About XACCT Accounting AS
XACCT had sales of 20.8 MNOK in 2021 and has approx. 40 employees serving a large portfolio of national and international customers. XACCT serves customers’ subsidiaries in 23 countries. XACCT offers accounting and payroll services based on Xledger ERP, Microsoft ERP and other cloud-based ERP solutions. XACCT has a portfolio of high-quality solutions tailored to a broad customer group in technology, finance, bank insurance and retail, including national companies and international subsidiaries.

About ECIT
ECIT was founded in 2013 and helps a broad customer base with IT, software and accounting. ECIT has a proven model for mergers and acquisitions, which ensures proximity to customers and local entrepreneurship combined with the strength of a larger international group. ECIT has a pro forma turnover (2021) of NOK 2.55 billion and +2,200 employees across 10 countries. M&A has been a key driver of the company’s growth, and ECIT has completed more than 125 acquisitions since 2013.

Synergos and Translink Corporate Finance are advisors to ECIT.