- HgCapital - the manager of HgCapital Trust - has announced investments in Zitcom and ScanNet, two leading Danish hosting and cloud solutions providers.

The investment is being made in partnership with the Zitcom co-founder and CEO, Stefan Rosenlund.

The investment was made from HgCapital's Mercury Fund which focuses on growth buyouts in the technology sector across Europe. The terms of the transactions were not disclosed.

Zitcom was founded in 2000 and operates under the Wannafind, UnoEuro, Curanet and Zitcom brands. The business has demonstrated fifteen years of consistent revenue growth and provides cloud services to more than 100,000 business and private customers in Denmark. ScanNet was founded in 1995 and provides services to a further 13,000 customers.

The combination of Zitcom and ScanNet will create a business with a leading position in both mass and managed hosting markets for SMEs in Denmark.

HgCapital's objective is to support the Zitcom and ScanNet management teams and employees in building a clear champion in Denmark, based on their excellent reputation for service delivery, unique operating platform and attractive multi-brand strategy.

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