Oslo, 11 July 2025: Spir Group ASA has entered into an agreement to sell its public administration software business Sikri AS to STG Partners. Following the transaction, Spir will be a streamlined and focused company with leading positions within real estate data and services in Norway and Sweden.
Sikri, which is a leading provider of mission critical public administration software, had 2024 revenues of NOK 269.5 million and cash EBITDA of NOK 45.2 million. The transaction implies an enterprise value of NOK 1 billion, of which NOK 900 million will be paid in cash at closing and NOK 100 million will be settled in 2028. Furthermore, Spir is entitled to an earn-out payment of NOK 50 million, contingent upon Sikri’s performance in 2025. The transaction is expected to close early Q3 2025.
“This is an important strategic milestone for Spir and Sikri. Spir will now be able to sharpen our group and focus solely on the attractive real estate segment, while also strengthening our financial position significantly. Sikri will get a great new home with a strong and competent owner, allowing the company to focus 100 percent on digitalisation of the public sector in Norway and the rest of the Nordics,” says Rolv Erik Ryssdal, Chairperson of the Board of Spir.
Following the transaction, Spir will be a focused real estate data and software business which in 2024 had pro-forma revenues of NOK 857.5 million (+11% YoY). In the first quarter of 2025, the YoY growth was 24 percent. The subsidiaries Ambita, Boligmappa, Spir Data and Iverdi jointly makes Spir the clearly leading Norwegian provider of digital solutions and services based on real estate data. Metria is among the largest Swedish providers of services and solutions within geodata, property & real estate, consultancy & analysis.
“The real estate industry is currently undergoing a significant digital transformation with the industry recognising its potential to enhance customer offerings, strengthen competitive positions, and significantly increase operational efficiency. With comprehensive data offering and well-established, products and solutions, the focused Spir Group serves as a crucial digitalisation partner for the whole real estate sector. This includes agents, banks, insurance companies, real estate developers, and the broader real estate ecosystem," states Per Haakon Lomsdalen, CEO of Spir Group.
