Asurgent joins Co-native, creating the market leader for Microsoft Cloud in Sweden

We are excited to announce that Asurgent has joined Co-native, establishing the Nordic multi-cloud group as the market leader for Microsoft Cloud services in Sweden. Asurgent, three times Microsoft Partner of the Year and a top 100 global partner for Azure, adds outstanding Microsoft expertise and Cyber Security to the group. Together with leading AWS-capabilities, Co-native continues building the multi-cloud powerhouse.

With both Asurgent and Microsoft specialist Xenit in the group, Co-native solidifies its position as the premier provider of Microsoft Cloud solutions in Sweden. Asurgent brings strong Microsoft expertise with its consultant and managed services for Azure, 365 and cyber security, enhancing Co-native's capabilities. By successfully transitioning customers from the constraints of on-premises ground IT-systems to the cloud, a multitude of benefits can be realized, fostering change, business development and innovation. Asurgent proudly holds the top position in the Value Creation Index for the Swedish cloud market (Radar Ecosystem 2022). By attracting top-tier customers and introducing new services, Asurgent also strengthens Co-native's presence in Stockholm.

Founded in 2016, Asurgent has established itself as a top-tier Microsoft Azure cloud specialist in Sweden. They offer a competitive and comprehensive range of cloud services, including advisory, consulting, cloud migration, digital transformation, managed cloud, and cyber security services.

With an annual growth rate of over 25% and an impressive client base comprising more than 85 well-known customers across various sectors, Asurgent is headquartered in Stockholm and employs 75 professionals. Together with Co-native’s group company Xenit, we grow to a 170 people specialist organization focused on Microsoft Cloud and can offer a more extensive service offering to new and existing customers.

In total, with Asurgent, Co-native becomes a nation-wide specialist group with well over 200 people across Sweden, offering state-of-the-art cloud services covering Microsoft Cloud and Amazon AWS, with more than SEK 375 million forecasted revenue in 2023.

As part of Co-native, Asurgent will retain its autonomy, specialist culture, organization, corporate brand, management, and customer relations. Co-native, on the other hand, will facilitate the utilization of group synergies. Asurgent employees will continue to work within a specialized cloud company environment, benefitting from new group collaborations, additional career paths, and the opportunity to become owners in Co-native.

Following the completion of the transaction, the shareholders of Asurgent will become major owners in Co-native, and Asurgent's co-founders, Ulf Engerby and Stephan Andersson, will join Co-native's board.

“With Co-native, we have found the right home for Asurgent and our company’s future growth journey. We are excited that Asurgent and Xenit are now joining forces, creating a major Microsoft Cloud player. As a company we will continue to build on our own strong company culture, while enjoying the resources and synergies in a larger group with both Microsoft Cloud and Amazon AWS capabilities”, says Stephan Andersson, co-founder and CEO of Asurgent.

“We are happy to welcome Asurgent to our group of cloud specialists, adding both a strong cloud culture, unique Microsoft Cloud competence, a great team and a base in Stockholm. With Asurgent we have taken a game-changing step to create a multi-cloud powerhouse and are excited to start working together”, says Linus Lindström, CEO of Co-native.

Contacts and more information

Fredrik Arnander, Executive Chairman, Co-native, +46 70 568 24 10,
fredrik@co-native.com

Linus Lindström, CEO, Co-native, +46 76-622 68 02,
linus@co-native.com

Stephan Andersson, CEO, Asurgent, +46 70 300 86 17,
stephan.andersson@asurgent.se

Johan Möllerström, Partner, Segulah VI Advisor AB, +46 72 543 79 11,
mollerstrom@segulah.se

Co-native website: www.co-native.com

Asurgent website: www.asurgent.se

Segulah website: www.segulah.com

About Co-native

Co-native – “The Home of Nordic Cloud Specialists” – is the Nordics' premier multi-cloud services group and now includes Xenit and Asurgent (Microsoft Azure), Buzzcloud and Elastic Move (Amazon AWS). The group is expected to turn over more than SEK 370 million in 2023 with healthy profitability, employs over 200 people with Swedish offices in Stockholm, Gothenburg, Lund, Kalmar and Karlstad. Co-native grew 188% in the last 12 months, organically and through acquisitions. For cloud specialists, we are the most attractive alternative for their future growth. To customers, we offer the best solutions for cloud and digital transformation. Co-native was co-founded in 2022 by Fredrik Arnander (tech entrepreneur and investor) together with Linus Lindström and Robin Kindberg (the co-founders of Xenit). They build Co-native on a strong experience of the cloud industry, tech entrepreneurship and investments. In 2022, Co-native joined forces with financial partner Segulah.

About Asurgent

Founded in 2016, Asurgent is one of the leading Microsoft Azure cloud specialists in Sweden, offering cloud services including CloudOps, Microsoft 365 and cyber security with a 24/7 Security Operations Center (SOC). Asurgent – delivering expertise “From the Ground to the Cloud, and Beyond” – is a 2022 Dagens Industri Gasell, 2021 Microsoft Partner of the Year and 2021 Radar Leader in Creating Customer Value. Asurgent is ranked as top 100 globally for Azure migration projects. Enjoying +25% annual growth, a robust client base of more than 85 well-known customers active within a wide range of sectors, Asurgent is based in Stockholm, employing 75 people with strong employee satisfaction.

About Segulah

Segulah, with the mission statement “We Invest in the Backbone of Modern Society”, is a private equity firm focused on mid-market buyouts in the Nordic region, investing within three verticals – B2B services, IT & technology services and light manufacturing – areas where team members have a long-standing and proven track record. Opportunities are targeted in markets benefitting from macro trends relevant for the Nordic region. The business model builds on active ownership adding capital, industrial competence and strategic focus. Segulah Advisor AB is the exclusive investment advisor to the funds Segulah IV, Segulah V and Segulah VI.