Jetshop acquires E-butik – creating the largest platform for e-commerce in the Nordic region

Gothenburg based company Jetshop announced today that it is acquiring E-butik i Norden AB through a cash purchase of all the shares in the company. The acquisition represents an important step towards the achievement of Jetshop's clearly stated goal of becoming the largest e-commerce platform provider in the Nordic region. With the acquisition of E-butik i Norden AB, a third of Sweden's webshops will now be operated on Jetshop's platforms.

Today's acquisition means that E-butik's approx. 1,100 customers and Jetshop's approx. 2,000 customers will gain access to expanded customer service and faster development of e-commerce systems and associated services. The acquisition means that Jetshop now has more than 60 employees at offices in Gothenburg, Södertälje and Växjö in Sweden and Wroclaw in Poland.

"Today's acquisition of E-butik clearly makes Jetshop the largest supplier of e-commerce systems in the Nordic region, and we are anticipating continued strong growth in the future", says Christian Zanders, CEO of Jetshop. "The level of demand within retail for e-commerce systems, new payment systems and new marketing services is increasing strongly as a result of the rapid growth of e-commerce."

Purchases totalling more than 2 billion SEK will be transacted on Jetshop's platforms during 2013, which is equivalent to 6-7 per cent of the total e-commerce in Sweden. The acquisition of E-butik makes Jetshop the largest supplier of e-commerce systems in the Nordic region. In Sweden alone, Jetshop will now provide the platform for around a third of all active webshops, ranging from a hundred or so major customers like ICA, Bilia, Gröna Lund, Joy and Sailracing to thousands of smaller businesses.

"Jetshop and E-butik have developed side by side ever since the birth of e-commerce", explains Tim Svensson, CEO of E-butik i Norden AB. "Today's unification of our companies is our way of responding to a growing level of demand and the new challenges associated with today's retail. We are both proud and excited about what the acquisition will mean for our customers and our employees."

The growth of e-commerce seems to know no bounds at present, and HUI estimates that e-commerce will generate a turnover of between 60-90 billion SEK within the next five years. This dramatic growth places significant demands on retailers, but it also entails an enormous potential for businesses within the area of e-commerce to help traditional retailers to adapt to a new way of doing business.

A step on the path to continued growth
Since 2005, Jetshop has experienced an annual growth rate of 35 per cent. Last year Jetshop acquired Releware, a company within digital marketing, and in 2008 it completed the acquisition of Optima Partner AS in Norway. Jetshop is now planning to further increase the rate of its acquisitions and growth during the next few years. The company is also planning a stock market listing during the spring of 2015.

"Our goal is to be the obvious choice of partner when it comes to e-commerce systems and associated services for the retailers of the future", says Christian Zanders.

About Jetshop
Jetshop develops and markets the Nordic region's largest e-commerce system: Jetshop Commerce.  Jetshop was founded in 2003 and has quickly grown to become a leading partner for e-businesses when it comes to e-commerce systems, strategic guidance, financial services and services within digital marketing, with the aim of developing its customers' trade and customer relations. 3,000 businesses currently use systems provided by Jetshop. During 2013, purchases to a value of over 2 billion SEK will be transacted in shops that use Jetshop Commerce.  In November of 2010, Jetshop was named as one of Sweden's fastest growing technology companies for the third year in a row by Deloitte at Sweden 2010 Technology Fast50. Jetshop has also been recognised as one of Europe's 500 fastest growing technology companies in the Deloitte EMEA 500 during 2009 and 2010. Jetshop also has the highest possible (triple A) credit rating according to Soliditet.

Jetshop has around 60 employees at offices in Sweden, Norway and Poland. 

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