IT-Relation A/S

Denmark · owned by AX VI itm8 Holding III ApS (Denmark) · www.it-relation.dk · 7 vendors

Resilience scores

Technology vendors

Services catalogue

1 service in catalogue across 1 category; runs on 7 sub-vendors.

Insights

Last updated 2026-09-13 · revision 2

7 direct vendors, 164 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Migration Readiness: 9/10

Assessed by AI based on technology stack characteristics (cloud-native vs legacy, containerization, microservices), regulatory environment, data residency requirements, financial stability, and vendor lock-in risks. The score ranges from 0-10, where higher scores indicate better readiness for technology migration.

IT-Relation A/S exhibits very high migration readiness, largely due to its core business focus on 'Cloud Solutions & Hybrid Cloud' and 'IT Consulting & Digital Transformation,' which includes public cloud migration services. Their internal tech stack heavily leverages modern cloud platforms like Microsoft Azure and Microsoft 365, alongside AI solutions (Copilot), demonstrating deep expertise and practical experience in cloud-native environments. They also manage a diverse set of traditional technologies (Oracle, MS SQL, PostgreSQL, Cisco, Fortinet), indicating a strong capability to migrate complex, mixed environments. Their awareness of NIS2 compliance further suggests they can navigate regulatory aspects of migration effectively. The reported vendor geographic diversity across 4 countries implies experience in managing a broad ecosystem, which can reduce vendor lock-in during migration projects. The assessment is limited by the lack of specific data on their own financial stability (revenue concentration, growth history) to fund a large-scale migration, and explicit data residency requirements. While 'Vendor Lock-in Risk' is stated as unknown, their business model as a managed service provider and cloud transformation expert suggests they are well-equipped to mitigate such risks for themselves and their clients. The 'Total Vendors: 0' is a data inconsistency that makes a precise assessment of their direct vendor lock-in challenging, but their diverse internal tech stack clearly indicates reliance on multiple technology providers.

Compliance

5 in-scope frameworks identified; showing 3.

GDPR (source) — Assessment Required

As an EU-based company (Denmark) processing personal data of employees, customers, and clients, GDPR compliance is mandatory. High risk due to severe penalties (up to 4% of annual turnover or €20M) and the company's extensive data processing activities across multiple IT services. The likelihood of non-compliance is medium given the complexity of their operations and client data handling.

Evidence: https://itm8.dk/om-itm8/politikker/privatlivspolitik, https://itm8.dk/om-itm8/certificeringer

SOC 2 (source) — Assessment Required

As a cloud services and managed services provider, SOC2 compliance would be valuable for demonstrating security controls to clients, especially those with US operations. Medium risk as it's not legally required but important for business credibility and client requirements.

Evidence: https://itm8.dk/om-itm8/certificeringer

ISAE 3000 (source) — Compliant

Company has ISAE 3000 Type 2 assurance reports for their managed services and data processing activities. Low risk as they have current certifications and regular independent audits demonstrating effective controls.

Evidence: https://itm8.dk/om-itm8/certificeringer, https://itm8.dk/hubfs/Certifikat/2026/itm8_Managed_Services_ISAE_3000-erkl%C3%A6ring%2c_type_2_-_Databehandler.pdf

Financials

Three-year financials

Financial Resilience Score: 6/10

IT Relation A/S (now part of itm8, CVR 27001092) demonstrates moderate financial resilience based on qualitative factors, though specific financial metrics could not be verified in this session. The company benefits from a high share of recurring revenue typical of managed services, cloud hosting, and service desk contracts, providing strong earnings visibility. Its scale and breadth across cloud, cybersecurity, ERP/Microsoft business systems, hosting, and managed services create a wide cross-sell platform within the Danish mid-market. Private-equity ownership by Axcel has historically supplied capital for buy-and-build expansion, with IT Relation serving as the consolidating platform for 13 Danish IT services firms rebranded as itm8 in 2023. Consolidated itm8 group revenue has been reported in Danish press to be roughly in the DKK 1.5-2 billion range, though this figure represents the entire group rather than IT Relation standalone. Key risks include integration execution risk from merging 13 brands, margin pressure from competitive Danish IT services market and wage inflation, typically higher leverage from PE-backed capital structure, customer concentration in Danish SMB/mid-market exposing the company to Danish economic cycles, and cybersecurity incident risk (itm8 reportedly suffered a ransomware-style incident in 2023). Overall resilience is supported by recurring revenue but tempered by integration and leverage risks.

Key strengths: High share of recurring revenue from managed services, cloud hosting, and service desk contracts, Scale and breadth across cloud, cybersecurity, ERP, hosting, and managed services, Private-equity backing from Axcel supporting buy-and-build expansion, Strong Danish mid-market footprint with multi-site presence across 8 Danish cities, Vendor partnerships with Microsoft and other major technology providers

Risk factors: Integration risk from merging 13 brands into unified itm8 entity, Margin pressure from competitive Danish IT services market and IT specialist wage inflation, Higher leverage typical of PE-backed capital structure, Customer and segment concentration in Danish SMB/mid-market exposing to Danish economic cycle, Cybersecurity incident risk (itm8 reportedly suffered a ransomware-style incident in 2023), Competition from NNIT, Netcompany, Atea, KMD, and Fellowmind

Revenue by geography

Workforce by country

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