AGC Partners is pleased to announce that its client, Origo (NASDAQ OMX: ORIGO), a longstanding IT services and solutions provider to enterprises in the Nordic region, has completed a majority financing of its Tempo business with Diversis Capital at a $62.5M total valuation. Tempo, headquartered in Iceland, is a leader in productivity-enhancing project management solutions. As part of the transaction, Diversis Capital will invest $35M for a 55% controlling stake in Tempo. This is the largest private equity financing in Iceland in 2018, and together with M-Files, the largest private financing in Finland in 2016, it further solidifies AGC's position as a leading advisor to tech companies in the Nordic region. Origo will retain a 45% stake in Tempo, and remains an important partner. Origo believes that Diversis' financial support and software operating expertise will add material value to the new partnership. With a team led by Fred Joseph, AGC Partners acted as a sole financial advisor to Origo.
In order to continue our success and ultimately provide better solutions and service for our clients, we needed an investment banking partner that was highly knowledgeable of our market and business model while having close relationships within the growth equity community. The AGC team truly understood the nuances of our business and were able to generate excitement around our story and triple-digit annual revenue growth over the past few years. We look forward to working with AGC on future transactions and appreciate the 24/7 commitment they delivered day-in and day-out.