Qvik acquires Swedish Qte and strengthens position as leading consultancy for digital consumer solutions in the Nordics
Qvik Oy, a leading consultancy in digital consumer solutions, acquires QTE Development AB, a trusted Swedish brand providing tailored digital solutions for growth companies.
Consumer goods and services companies are increasingly investing in digital channels to achieve a lasting competitive edge.
The acquisition of Qte accelerates Qvik’s international growth and is a natural continuum to its recent minority investment from a Finnish private equity investor Bocap, which is making an additional investment into Qvik alongside the acquisition that solidifies Qvik’s position as a leading developer of digital consumer services in the Nordics.
Qvik Group is happy to welcome Qte into the family. Qte, which has over quintupled its revenue during the past five years, and Qvik have more than just the first letter Q in common – the companies have a similar ambition to grow internationally. Qte has over 150 customers in industries such as media, retail, and transportation, including DHL, Klarna and Bonnier.
Qte’s expertise complements Qvik’s offering in advanced web development, project delivery, and managed services. The synergies are mutual, as Qte will benefit from Qvik’s monetization, mobile, and design capabilities. Together Qvik and Qte will be able to provide their European customers with even more comprehensive services for digital growth.
Qte will continue with its brand in Sweden.
“Becoming a part of Qvik gives us power and fuel to make headway faster. It is really fun to feel this glow again – it’s a feeling I recognize from other pivotal moves in our journey.”
Jonatan Arnlund, Co-Founder and CEO, Qte
Qvik and Qte have a strong cultural alignment centered on their willingness to create value for customers, nimbleness and commitment to people’s well-being – virtues that the group is now able to cultivate even further. The culture match stems from three similar founders and a strong resemblance in the companies’ journeys up until now.
“When we were looking for a partner in Sweden, I immediately fell in love with Qte. I recognized so much of their journey, culture, and passion toward creating digital products that people appreciate in their everyday lives.”
Lari Tuominen, CEO, Qvik Group
The acquisition of Qte triples Qvik’s turnover in Sweden to 65 million kronas this year, and globally, the group is expected to reach 17 million euros in turnover in 2024. By acquiring Qte Qvik accelerates its vision of becoming the go-to digital powerhouse in Europe that develops extraordinary consumer products for everyday use.
Qvik Group is a technology consultancy specializing in digital consumer solutions. The group’s mission is to enable digital growth for its clients through end-to-end support, including monetization, business and consumer insight, design, development, and managed services. Qvik’s headquarters are in Helsinki Finland, with offices in Sweden and the UK. Qvik Group has 160 employees, and its turnover is expected to reach €17m in 2024. Qvik Group is backed by a Finnish private equity investor Bocap. Some of Qvik Group’s clients include Savings Bank, Klarna, Posti, DHL, Electrolux, Bonnier, Sanoma and Terveystalo.
Qte is a strategic tech partner helping companies boost their business through tech. They specialize in tailormade digital solutions that drive companies forward, creating everything from mobile applications to complex IT systems. As a tech partner, they work long-term and continuously with clients such as DHL, Klarna and Koenigsegg. In 2023, Qte was awarded a DI Gazelle, and in 2024 they were named the 7th best workplace in Sweden. Since 2024, Qte has been a part of the Qvik Group.
