Co-native acquires the AWS cloud specialist Buzzcloud

Co-native, a Swedish based cloud services group established in 2022, adds deep Amazon Web Services ("AWS") competence and strengthens the Group's position within the Stockholm region through acquiring the fast-growing cloud specialist Buzzcloud AB ("Buzzcloud"). Founded in 2018, Buzzcloud headquartered in Stockholm with an office in Gothenburg is a certified AWS partner offering cloud-based consultancy services within infrastructure and development based on AWS technology. In addition, Buzzcloud provides managed cloud services through recent investment into Cloudops, representing a key focus area going forward. In 2022, Buzzcloud reported revenues of SEK 17m, with a growth of 44% from 2021.

Co-native, together with the existing group company Xenit, a leading Microsoft Azure-focused cloud specialist, will enable Buzzcloud to meet growing requirements for recruitment scale as well as accelerate development of Cloudops. Meanwhile, the acquisition of Buzzcloud will add a strong people culture, complementary client base as well as broaden the Group's offering through combining Microsoft and AWS competence. Buzzcloud's co-founder and CEO, Tony Regnhamn, will remain in his current operational role and retain a significant shareholding in Co-native.

"With Co-native, we have found the right home for Buzzcloud and the natural next step for our company. There is both solid business understanding and cultural fit, based on entrepreneurship and cloud skills. Being part of Co-native, we can solve the bottlenecks that were obstacles to our growth, like recruitment, and combine the strength of the small cloud specialist - expert competence, personal relations and flexibility - with the resources of a larger group", says Tony Regnhamn, co-founder and CEO of Buzzcloud.

"We are pleased to welcome Buzzcloud to our group of cloud specialists, adding a strong people culture and exceptional AWS competence. Co-native's ambition is to be the most attractive alternative for cloud specialists, and we are happy that Buzzcloud choose us for their future growth journey", says Fredrik Arnander, Executive Chairman of Co-native.

For further information, please visit www.co-native.com, www.segulah.com or contact:

Fredrik Arnander, Executive Chairman, Co-native, +46 70 568 24 10, [email protected]

Linus Lindström, CEO, Co-native, +46 76-622 68 02, [email protected]

Percy Calissendorff, Partner, Segulah VI Advisor AB, +46 73 347 62 81, [email protected]

Johan Möllerström, Partner, Segulah VI Advisor AB, +46 72 543 79 11, [email protected]

The following documents can be retrieved from beQuoted
20230424-Press-release-Buzzcloud vFF.pdf

Segulah, whose mission statement reads "We invest in the backbone of modern society", is a private equity firm focused on mid-market buyouts in the Nordic region. To ensure long term structural growth we invest, with sustainability in focus, along three major themes: "Modernization & Automation of Industry", "Digital Business Efficiency" and "Smart Urbanization & Infrastructure Renewal". Our business model builds on active ownership where we add capital, industrial competence and strategic focus. Segulah Advisor is the exclusive investment advisor to the funds Segulah IV, Segulah V and Segulah VI.

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