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Cegal and SYSCO announce merger

SYSCO and Cegal are joining forces to create a leading, global tech company for the energy sector, and take a position as a powerful contributor to the green shift.

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30.08.2021

SYSCO and Cegal are joining forces to create a leading, global tech company for the energy sector, and take a position as a powerful contributor to the green shift.

"Cegal and SYSCO are two companies with a long history of working with modernization and digitalization for customers in this segment. As a joint company, our contribution is strenghtened immensely and we will be taking a huge step forward", says Svein Torgersen, CEO in Cegal.

-To be able to deliver sustainable energy, the energy industry is transforming at a high pace, and this energy transition is granted significant investments. Cegal and SYSCO are two companies with a long history of working with modernization and digitalization for customers in this segment. As a joint company, our contribution is strengthened immensely and we will be taking a huge step forward, says Svein Torgersen, CEO in Cegal.

- To put it simply; we will be delivering software, world class consultancy, and secure and high performing cloud solutions". This is how we will be a valuable contributor in driving the green shift, as well as solving challenges in other industries with similar needs, says Dagfinn Ringås, CEO in SYSCO.

Pushing the green shift forward

– Traditionally, Cegal has been an important provider of technology to the international Oil & Gas industry. The transformation of this sector and the move towards renewable energy is happening at a high speed, with technology and diversity as important keys. SYSCO has a strong position among hydropower and grid companies. Together, we scale for larger customers, to solve new and greater challenges, and to provide full stack deliveries to the global energy sector, says Torgersen.

– Our customers want cutting-edge software, which is easy to implement and use. In addition, they need assistance with integration, managing and analyzing big data, and operations that are monitored, secure and efficient. When joining forces with Cegal, we will be a strong player that provides industrial and specialized products and services in these business areas, says Ringås.

Perfect match and a good size

Torgersen emphasizes that SYSCO and Cegal are a perfect match.

– We are both founded in Norway and are well established across several international locations. The two companies share common values, and experience strong growth, are well known in the market, and have a good reputation among our customers.

– Furthermore, our software portfolios and consultancy services complement each other, and both companies have in-depth industry domain knowledge. Although we both focus on the energy sector, there is limited overlap between our customer base, he adds.

- The merger ensures international strength and impact as we are positioned to be a global player and a rock solid and professional tech partner. At the same time, we will be small enough to maintain our agility and closeness to our customers. We are strengthening diversity related to, among other things, skills and experience, gender, age and culture. This is the foundation of a work environment with a positive spirit that provides energy. In this way, we are an attractive workplace for the brilliant minds that are solving the challenges of tomorrow, Ringås adds.

The combined company will continue to have well established Norwegian owners with a consortium of investors managed by Norvestor, consisting of Argentum, Cubera and DWS as the majority owner, and while existing SYSCO owners Credo Partners and Ferd will also retain ownership in the new company.

Ringås summarizes:

- We are very happy and proud! We have spent a lot of time working to make this merger happen, and we are eager to let our employees know the good news. Now we embark on the exciting work of merging two organizations of fantastic employees into one company.

Dagfinn Ringås will be assuming the role as CEO of the new company, and Svein Torgersen will be the executive chairman of the board. The company will have headquarters in Stavanger, Norway, and more than 700 employees from more than 30 nationalities located in eight countries. Total revenue for the combined company are expected to reach approximately 1,4 billion NOK for 2021.  

Photo by Morten Berentsen (Cegal) and Bård Gundersen (SYSCO)

Media coverage

Read Finansavisen's article "Cegal og Sysco fusjonerer" (in Norwegian)
Read digi.no's article "Cegal og Sysco slår seg sammen til et nytt norsk IT-selskap med over 700 ansatte" (in Norwegian)
Read E24's article "Et «grønt» og et «svart» IT-selskap slås sammen" (in Norwegian)
Read Computerworld's article "Cegal og Sysco fusjonerer" (in Norwegian)
Read Dagsavisen's article "SYSCO og Cegal fusjonerer og får milliardomsetning" (in Norwegian)
Read Budstikka's article "Hadde rundt 40 friere – nå er «selskaps-ekteskapet» inngått" (in Norwegian)
Read Haugesunds Avis' article "Sysco fusjonerer - får hovedkontor i Stavanger" (in Norwegian)
Read Sandesposten's article "Koppholen-selskap slår seg sammen med Haugesund-selskap: Blir en global kjempe" (in Norwegian)
Read Solabladet's article "Forus-selskap slår seg sammen med Haugesund-selskap: Blir en global kjempe" (in Norwegian)
Read Næringsforeningen's article "Cegal og SYSCO fusjonerer" (in Norwegian)
Read ModularPhonesForum's article "Merger of a “green” and “black” IT company – E24"

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