itm8 Due Diligence

Run due diligence on itm8: check compliance and get alerts when suppliers or ownership change.

Denmark · owned by AX VI itm8 Holding III ApS (Denmark) · itm8.com · 49 vendors

ITM8 Holding A/S is a leading Northern European digital transformation partner that provides comprehensive IT solutions. The company specializes in cloud services, digital transformation, application services, ERP, and cybersecurity. They serve small, medium, and corporate businesses, as well as the public sector across Europe, with headquarters in Denmark.

Resilience scores

Technology vendors

Services catalogue

12 services in catalogue across 5 categories; runs on 49 sub-vendors.

Insights

Last updated 2026-09-15 · revision 47

49 direct vendors, 337 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

7 in-scope frameworks identified; showing 3.

ISAE 3000 (source) — Evidence found

For a technology service provider like itm8, an ISAE 3000 report provides independent assurance to clients over the design and effectiveness of controls related to services and data processing.

Evidence: https://itm8.com/about-itm8/certifications, https://itm8.dk/om-itm8/certificeringer

GDPR (source) — Evidence found

itm8 is headquartered in Denmark and operates within the EU, making GDPR directly applicable to its processing of personal data of employees, customers, and suppliers.

Evidence: https://itm8.com/policies/privacy-policy, https://itm8.dk/gdpr-toolbox, https://legal.itm8.com/Files/Images/Legal/Versions/FT20240301/Group%20Data%20Processing%20Agreements/Data%20Processing%20Agreement.pdf, https://legal.itm8.com/Files/Images/Legal/Versions/FT20240401/Group%20Data%20Processing%20Agreement/Guidelines%20for%20understanding%20your%20data%20processing%20agreement%20with%20itm8.pdf

CRA — No public evidence

The Cyber Resilience Act (CRA) applies to all products with digital elements placed on the EU market. itm8, as a provider of various IT solutions and potentially software, will likely fall under its scope.

Evidence: https://www.williamfry.com/knowledge/cyber-resilience-act-what-manufacturers-need-to-know/, https://www.avixa.org/explore/articles/cyber-resilience-act, https://digital-strategy.ec.europa.eu/en/policies/cyber-resilience-act, https://tracxn.com/d/companies/itm8/__g7h4VRfI7_2drhASKfKFvECcvx2xeIzvyHzQtclZ788, https://itm8.com/newsuk/itm8-unites-13-companies-in-a-major-merger, https://expert.broadcom.com/partners/vcsp/itm8

Financials

Three-year financials

Financial Resilience Score: 5/10

itm8 shows a mixed resilience profile. On the positive side, the company benefits from strong PE sponsorship (Axcel, Chr. Augustinus Fabrikker, Ares, Dansk Vækstkapital II), a solid equity base with a group solvency ratio of 35.8% at end-2024, and highly recurring revenue with ~70% derived from Managed Services across 5,000+ customers and 200,000+ daily IT users. Management explicitly confirms sufficient liquidity and covenant headroom based on 2025-2026 forecasts, and PwC issued a clean audit opinion on the FY 2024 group accounts. However, the group is loss-making at a consolidated level, with net losses of DKK 582m in 2024 and DKK 532m in 2023 driven by heavy amortisation of goodwill/customer relationships and DKK 417m in financial expenses tied to Axcel's leveraged buyout structure. The single Danish operating entity (CVR 27001092) swung to a DKK 29.5M net loss in 2025 after only modest 5.5% revenue growth, with EBIT turning negative. Headcount has been reduced significantly (from 1,345 to 1,134 average, now 1,016 registered), and the group missed its FY 2024 revenue guidance. Execution risk from the ongoing 'One itm8' integration program, floating-rate senior debt from Ares/Nykredit, and unhedged SEK translation exposure add further pressure. Overall, resilience is adequate but constrained by leverage and integration execution risk.

Key strengths: Strong PE sponsorship from Axcel, Chr. Augustinus Fabrikker, Ares and Dansk Vækstkapital II, Group solvency ratio of 35.8% at end-2024, ~70% of revenue from recurring Managed Services, 5,000+ customers and 200,000+ daily IT users providing revenue visibility, Clean PwC audit opinion on FY 2024 group accounts, Management-confirmed liquidity headroom and covenant compliance for 2025-2026, ISO/IEC 27001:2022, ISAE 3402 Type II, and ISAE 3000 Type II certifications

Risk factors: Persistent group-level net losses (DKK -582m in 2024, DKK -532m in 2023), Highly leveraged capital structure with floating-rate senior debt from Ares and Nykredit, Heavy amortisation burden from DKK 3.9B customer relationships and DKK 2.8B goodwill, Unhedged SEK translation exposure from Swedish subsidiaries, Execution risk from ongoing 'One itm8' integration program, Declining headcount (1,345 → 1,134 → 1,016) signals operational pressure, FY 2024 revenue miss vs. DKK 2,700-2,800m guidance, Operating entity swung to loss in FY 2025 (DKK -29.5M net, DKK -12.3M EBIT), CSRD preparations deprioritised

Revenue by geography

Revenue by product/service

Workforce by country

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