Nova klúbburinn hf. ("Nova") has signed an agreement to acquire all shares in Ofar hf. The acquisition is part of Nova's targeted growth strategy and significantly strengthens the company's position in the corporate market.
Ofar is one of the country's largest service companies in the field of technology equipment and solutions, serving approximately 10,000 companies, including most of the country's larger enterprises. The company employs around 100 specialists and possesses robust infrastructure in product and procurement management, warehousing, distribution, and workshop services. Ofar has decades of experience supporting companies and institutions with IT and technology equipment from over 150 world-renowned brands such as Lenovo, Canon, Bose, and Sony. The company also offers an outstanding selection of audio and video solutions, printing solutions, healthcare solutions, as well as solutions for warehouses, retail stores, restaurants, infrastructure, data centers, and more.
Ofar's total revenues in 2025 were approximately ISK 7.8 billion, the company's EBITDA was nearly ISK 620 million, and operating profit was approximately ISK 360 million. The total enterprise value of the acquisition amounts to ISK 4,400 million, in addition to lease liabilities of approximately ISK 510 million at year-end 2025. The final purchase price will be determined by the net working capital position and net interest-bearing debt on the closing date. The acquisition will be financed with cash and debt.
The breadth and impact of Nova in the corporate market and collaborators will significantly increase with the acquisition. The acquisition is an important step in strengthening Nova as a holding company with diversified revenue streams in services, technology, and infrastructure. Nova hf. and Ofar will be operated separately, each under its own brand, but opportunities lie, among other things, in increased product offerings and cross-selling, given the companies' distinct target audiences.
Ofar's estimated growth for the current year, together with the estimated positive synergy effects on Nova's consolidated EBITDA, are expected to total approximately ISK 250 million on an annual basis once fully realized. Tthe estimated total impact on the group's EBITDA will thus be approximately ISK 870 million, while the group's annual investments are expected to increase by ISK 60 million per year. The transaction will therefore significantly strengthen the group's cash flow.
“Ofar is a company that has built a strong market position through professionalism and ambition. Like Nova, the company systematically works with technological innovations, guided by the principle that customers always have the best solutions for their operations. I became well acquainted with Ofar when I worked at Origo and have followed the company's development since then. It has a strong and experienced team with a clear vision. It will be incredibly exciting to further boost Ofar's growth, as the opportunities are numerous, and at the same time leverage the opportunities created for Nova Group on our current growth trajectory.”
“Ofar is a strong and independent company that has undergone significant development and growth in recent years. With Nova as its new owner, a robust foundation is created for the company's next growth phase. We see clear opportunities for Ofar to continue its expansion in the sale and service of IT and technology equipment, while Skyggnir is now focusing all its efforts on its core companies in information technology, software development, IT system operations, and cybersecurity.”
The buyer's advisors in the transaction were LOGOS and Deloitte, and the seller's advisors were Arctica Finance and BBA//Fjeldco.
The transaction is expected to take effect upon fulfillment of conditions precedent, including approval from competition authorities.
