NORBIT is a global provider of tailored technology to selected niches, solving challenges through innovative solutions, in line with its mission to Explore More. The company is structured in three business segments to address its key markets; Oceans, Connectivity and Product Innovation & Realization (PIR). The Connectivity segment (previous ITS) encompasses NORBIT’s technology within low power wireless solutions both related to electronic vehicle identification for tolling and tachograph enforcement, together with a new vertical comprising of the recently acquired Hungarian software solutions provider iData, as well as NORBIT’s initiatives within tailored IoT in selected niche applications. NORBIT is headquartered in Trondheim with manufacturing in Norway, has around 400 employees and a worldwide sales and distribution platform. NORBIT has strong growth ambitions within Connectivity and wants to expand its product and service portfolio. Karabin Impello was, together with Carlsquare in Germany/Sweden as sub-supplier, engaged to assist in a search for acquisition candidates in the Nordics and Europe. The assistance included: Defining search criteria, broad search for acquisition candidates – long-list, screening down to relevant candidates – short-list, 1-pagers for relevant candidates, initial contact and meetings with relevant candidates, pre-DD, price negotiations, indicative offer, coordination of DD and negotiation of agrements in the acquisition of iData Kft. in Hungary and calculation of the purchase price (EV-Equity bridge)

The case

Revenues (Q3 2021 annualized)
800 MNOK

Costumer statement

«The cooperation between Karabin Impello and their Globalscope partner Carlsquare gave both local commitment and support, as well as broad network and search capacity in Europe. As a result, many relevant candidates was presented to NORBIT. We experienced professional and good support in the acquisition of iData Kft. in Hungary” - Per Jørgen Weisethaunet, Group CEO NORBIT