The past year

Main objectives for 2008 _ To retain KMD's position in the local government IT market _ To retain KMD’s position as one of the top 3 IT service providers in Denmark _ To improve KMD's position in the private and central government markets _ To be able to recruit and retain the best employees _ To contribute to Denmark’s development as a knowledge society

A good year for KMD
2008 was a good year for KMD. Generally speaking we achieved the main objectives that we had set for the year and delivered satisfactory business and financial results. KMD has maintained its market position as an IT provider in the changed local government landscape – KMD's largest market by far – and in the regional and central government and private markets. As well as a number of business triumphs and challenges, the year also brought a change of ownership. On 2 December 2008 KMD's long-time owner Local Government Denmark (KL) announced the agreement to sell KMD to EQT V Limited (EQT) and ATP.

New ownership
In EQT and ATP, KMD now has completely private ownership. The sale of KMD took place in accordance with Act no. 548 of 8 June 2006, under which local government-owned companies that have more than 25% of their revenue outside the local government market must have private ownership. Specifically, the Act required KMD to change owners by the end of 2011 at the latest.

EQT is a European private equity fund that also owns other large Danish companies such as the service firm ISS and the cancer diagnostics company Dako. KMD's new owners have endorsed the company’s management and the strategy that has been set out for KMD up to 2010. At KMD we believe that the new owners will help ensure that KMD achieves its full growth potential in the future.

In connection with the sale of KMD, KL decided to retain the properties housing KMD in Ballerup, Odense and Aalborg, and to demerge them into property companies with retrospective effect from 1 January 2008. Since then KMD has paid to lease the properties. More information on this can be found in the "Cost control" section.