Advania Divests Two School Software Solutions To Infomentor

Advania Iceland has signed a definitive agreement to divest two school software solutions to InfoMentor Iceland, a portfolio company owned by the Swedish software company Nordtech Group. As developing proprietary software is not part of Advania’s core offering, this divestment allows Advania Iceland to further streamline its IT services offering and provide best-of-breed software solutions tailored to the customers’ needs. This underpins the goal of becoming the preferred IT services provider in Northern Europe.

Key transaction highlights

• Advania has reached a definitive agreement to divest two school software solutions to the Nordic software specialist InfoMentor, a portfolio company of the Nordtech Group.
• Inna is an information system for secondary schools and contains, among other things, a teaching system and student accounting. Vala is a solution for municipalities that covers the administration of preschools, school meals, after-school activities, community center activities and work schools.
• A strong team of domain and software specialists will follow the transaction perimeter to ensure smooth transition and full operating capabilities from day one.
• Advania, with a heritage dating back to its inception in Iceland in 1939, is a leading IT-services provider in Northern Europe with operations in Sweden, Iceland, Norway, UK, Denmark and Finland.

InfoMentor is a learning platform that simplifies everyday school life by providing planning, assessment, documentation and analysis in one tool.

The transaction allows Advania to focus on the customer intimacy while providing independent and best-of-breed solutions.

"At Advania, we regularly review and evaluate our product and service offerings to sharpen our focus based on market developments and the latest technology. As a result, we made the decision to step out of developing and maintaining proprietary software within student and school administration. After a strategic review it became clear to us that the two solutions would find a great home with InfoMentor who will continue to provide a high quality of service to these long-standing customers,” says Ægir Már Þórisson, CEO of Advania Iceland.

To ensure a smooth transition for customers, a team of domain experts and software specialists will be included in the transfer. The team will continue to deliver the highest level of services to existing and new customers.

"After discussions began between InfoMentor and Advania, it was immediately clear that these solutions were well aligned with the journey that InfoMentor is on and that there were opportunities to do even better by joining forces. InfoMentor employs a team of experts who live and work in school solutions and have extensive expertise both in the Icelandic market and in the Nordic countries. With this knowledge and the knowledge of Advania's school solutions experts, there is an opportunity to continue to develop powerful technical solutions for these markets with the interests of students in mind," says Johan Kratz, CEO of InfoMentor.

The majority of the shares in Advania is owned by funds managed by the Private Equity team at Goldman Sachs Asset Management.