MilDef's products include rugged laptops. (MilDef)
MilDef's three recent acquisitions have made the Sweden-based information technology (IT) provider a more well-rounded supplier to its military customers, according to company officials.
MilDef, which was traditionally focused on manufacturing hardware, broadened its portfolio by purchasing Norwegian software business Sysint and Swedish integration services provider Defcon Solutions in 2021. “We have been building the company to be more like a system house with the three legs, meaning hardware, software, as well as services,” MilDef chief business development officer Ola Alfredsson told Janes on 7 July.
To complement its rugged IT products – including laptops and tablets – MilDef bought Sweden-based Handheld Group in 2022, gaining less expensive, semi-rugged IT hardware that appeals to customers seeking to buy in high volumes quickly. The SEK350 million (USD32 million) deal was MilDef's largest acquisition and doubled its footprint in the robust US market to 24 employees.
MilDef, which employs a total of about 300 people, continues to explore potential acquisitions to supplement its organic growth. “We want to grow as much non-organic as we grow organic,” Alfredsson said. Cyber is an area of interest for possible deals, along with hardware, software, and services.
Olof Engvall, MilDef's head of investor relations and communication, told Janes he would like to see another acquisition like Defcon, which “was a gamechanger for MilDef” because it gave the company a role in installing equipment on major defence platforms, including submarines, surface ships, and tanks. “We did not do that [type of work] two years ago,” he said. “Now we do that, and that is growing so strongly.”
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