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Hg to sell itm8 to Axcel

Software services investor Hg has agreed the sale of itm8, a supplier of IT services for private businesses and the public sector in Europe, to Axcel, a Nordic private equity fund.

itm8 has a team of more than 1,100 IT experts, supporting more than 4,200 customers within four business-critical areas: Cloud Services, Digital Transformation, Application Services and Cyber Security.
 
itm8 (formerly IT Relation) has more than doubled in size since Hg first invested in 2018, as measured by revenues, employees and the size of its customer base.

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