Advania Acquires Evolv to Strengthen AI and Automation Capabilities

Advania has acquired Evolv Robotics, an Icelandic specialist in business automation, bringing a team of 30 automation engineers into the group and establishing its first dedicated automation delivery unit in Iceland. The acquisition strengthens Advania's ability to deliver end-to-end AI and automation services as organizations increasingly seek trusted partners to help them identify, implement, and scale these technologies.

Evolv develops automation systems that streamline and orchestrate complex business processes across industries. The company serves more than 100 customers in Iceland, with solutions deployed in production environments supporting everything from financial operations to customer workflows. Its team combines deep automation engineering expertise with a proven track record of implementing systems that operate reliably at scale.

Combining sovereign AI infrastructure with automation expertise

Business automation is rapidly evolving toward AI-powered systems that can process unstructured data, adapt to changing conditions, and continuously improve through operational learning. At the same time, organizations are placing increasing emphasis on data sovereignty and trustworthy AI deployment, particularly when handling sensitive business information.

Advania has built sovereign AI cloud capabilities that provide organizations with secure, compliant access to AI services while maintaining full control over their data. The Evolv acquisition adds the automation engineering expertise needed to implement these capabilities in production environments, creating an end-to-end offering that addresses both the infrastructure and execution challenges organizations face.

“Our clients are asking for help navigating AI, but they need more than infrastructure,” said Henrik Foyn-Laukvik, Head of M&A at Advania. “They need partners who can help them identify where AI creates value, implement it in ways that actually work, and ensure it operates within their data sovereignty and compliance requirements. Evolv’s team brings the automation engineering expertise that turns AI infrastructure into deployed solutions.”

“We’ve always been building toward more intelligent automation that can handle ambiguity, process natural language, and make contextual decisions,” said Eyþór Logi Þorsteinsson and Sigurður Davíð Stefánsson, founders of Evolv. “Joining Advania gives us access to sovereign AI infrastructure and the platform to deploy these capabilities more broadly across enterprise environments.”

Hege Støre, CEO of Advania, welcomes the Evolv team and highlights the complementary strengths the acquisition brings. “The Evolv team represents a new generation of technology specialists in Iceland. Their ambition and agility bring valuable momentum to Advania Iceland, while their specialist expertise in automation further strengthens our overall capabilities. We look forward to combining their drive with our long-standing experience and customer relationships.”

Independent delivery unit with development mandate

Evolv will operate as an autonomous automation delivery unit within Advania Iceland, maintaining the technical focus and operational speed that has driven its growth. The team will continue serving existing customers while contributing its automation expertise to the further development of Advania’s broader AI and automation offering across markets. Evolv’s management team joins Advania as part of the transaction.

This represents Advania’s first acquisition in Iceland in more than a decade, reflecting both the strategic significance of automation capabilities and the company’s selective approach to building new services.

The transaction has received approval from the Icelandic Competition Authority.