WHO ARE WE TODAY

Nýherji hf. (NASDAQ OMX: NYHR.IC) is a long-established and publically listed Nordic IT services and solutions provider with offices in Iceland and Sweden. For over two decades we have been assisting our customers with technical leadership, through the supply of the best-available technology, applications development, systems integration, facilities management and expert business process consultancy. Our corporate roots that can be traced back to 1899 with the very inception of “office machines”.

Today under the leadership of CEO Finnur Oddsson, Nýherji aims to be the technology partner of choice for businesses, from the smallest to the largest enterprises. With expertise in understanding and linking the needs of enterprise customers to competitive technology solutions, Nýherji uses its deep knowledge of mission-critical processes, hardware and application requirements, to focus on government and industries sectors with high support needs such as healthcare, financial services, logistics and aviation.

CORPORATE HISTORY

CORPORATE ROOTS DATING BACK TO 1899

Nýherji can trace its corporate roots back to the very inception of “office machines”, over 115 years ago, when the firm of Skrifstofuvélar-Sund (the “Channel Office Machine Company”) began operations, supplying office machines in 1899, to companies in Iceland.

OUR RELATIONSHIP WITH IBM

Fifty years later in 1949, Skrifstofuvélar hf. was founded as a public company with Otto A. Michelsen as CEO, to become the exclusive agent for IBM in Iceland, considered a part of IBM Denmark at that time, as IBM was not permitted to own a company in Iceland at that time.

Almost two decades later, IBM Iceland hf. was formed as a separate company. Through a subsequent series of mergers and acquisitions, Skrifstofuvélar and IBM Iceland hf. were again united under the leadership of CEO Gunnar M. Hansson in 1992, now one of the largest companies in Iceland supplying computers and office equipment, with export sales to major companies around the world.

STOCK EXCHANGE LISTING

In 1995 as a listed company, Nýherji hf. shares began trading on the Open Offer market and two years later, in 1997, as the Icelandic Exchange merged with OMX, became listed on the Exchange under its current stock ticker OMX: NYHR.

NEW HEADQUARTERS

In 2000 Nýherji acquired its current group headquarters at Borgartún 37 and established a subsidiary Klak ehf. to service the needs of IT start-up companies. Klak subsequently evolved into the Klak Innovation Centre in partnership with Reykjavik University to assist and engage in research and consultancy with Icelandic entrepreneurs and start-up firms.  Klak and Innovit merged in 2013 and became Klak Innovit. The name of the company was changed to Icelandic Startups early 2016, in order to better support future goals and vision of the company. 

CONTINUED GROWTH THROUGH ACQUISITIONS

From the start of the new millennium, Nýherji continued to grow with the acquisition in 2003 of Camson hf. a company specializing in digital equipment for the radio, television and film industries and IBM Consulting Services in Iceland subsequently operating as Parx ehf.  In 2005 Nýherji acquired Danish companies Applicon A/S, specialists in SAP consulting, and DanSupport A/S, experts in the installation of computer, communications and networks for medium-sized companies. In 2006, Nýherji acquired Tölvusmidjan ehf., an operations and hosting company in the east of Iceland and the following year acquired Link ehf., Icelandic distributor for leading brands including Sony and Panasonic.  These brands were combined through the opening of its electronic equipment retail store ‘Sense’ for both business and consumers and it took over the Sony Center in Kringlan, Iceland’s main shopping centre.

INCREASING STRENGTH WITH EXPANSION INTO SOFTWARE

Recognising the increasingly software driven nature of technology, in 2008 Nýherji acquired a controlling stake in TM Software hf . to strengthen its position as Iceland’s leading provider of IT solutions. In addition, Nýherji acquires Marquardt & Partners A/B in Stockholm to expand Applicon’s software solutions offering for financial institutions in Northern Europe.  ParX was sold in 2009 to Price Waterhouse Coopers and the activities of Link and Sense subsidiaries were united under the Sense brand.

A NEW CUSTOMER FOCUSED STRUCTURE EMERGES

In 2011 Nýherji Group created a new corporate structure to better service the emerging information technology needs of its customers. The new Nýherji group comprises Nýherji hf. providing hosting and managed services and audio and video solutions, Applicon providing business software solutions and TM Software specializing in software development and medical records solutions for the healthcare sector.

RESTRUCTURING FOR AGILITY AND PROFITABILITY 

Finnur Oddsson was appointed CEO of Nýherji in fall 2013. Since then Nýherji´s management team have led a restructuring campaign of Nýherji group, with a particular focus on simplifying operations, creating a more agile corporate culture, and reaching stable profitability. 

The restructuring efforts included divesting of non-strategic Danish subsidiaries (Applicon A/S, Applicon Solutions A/S and DanSupport A/S), organizational restructurin and refocusing of IT service portfolio with new software offerings for line-of-business, development and capitalization of Nýherji´s own intellectual property, and driving service excellence as a competitive advantage for Nýherji and subsidiares.