Viking Growth and Verdane, the majority owners of Grade and Talentech, have completed the merger of the two companies, forming a leading HR technology platform. The newly created company is the de facto Nordic market leader within HR-tech, with plans for further expansion in Northern Europe.
The new company, with a combined revenue of NOK 700 million, will continue under the name Talentech. It will offer an integrated platform combining the strengths of both businesses, serving nearly 4,000 SMBs and public-sector customers and supporting more than 1.2 million users.
“The European HR market is highly fragmented and undergoing rapid technological transformation. This creates an attractive opportunity for a Nordic player with international growth ambitions. Talentech is well positioned to capitalize on this through innovative, cross-border solutions and a clear regional identity,” says Joar Welde, Partner at Viking Growth.
Erik Fjellvær Hagen, Managing Partner; Eirik Brænd Hjelmeland, Investment Director; and Joar Welde, Partner at Viking Growth.
Walter Leicher has been appointed CEO of Talentech. Coming from the position as CEO of Papirfly, Leicher brings more than 30 years of executive leadership experience, with a proven track record of transforming businesses across sectors such as software, commercial real estate, industrial, and consulting.
“We believe the market is ready for a pan-Nordic player focused on AI- and data-driven innovation, with a strong portfolio of solutions across all HR workstreams,” says the new CEO.
Talentech’s customers will benefit from a unified, AI-powered platform that uses data-driven insights to attract, recruit, develop, and retain engaged talent.
“With the creation of a combined Nordic HR tech platform, Talentech plans to expand in the Nordics and Northern Europe, and strengthen our portfolio of solutions through additional acquisitions”, Leicher says, and continues.
“HR teams today face increasing complexity and pressure, often without the tools to truly make an impact. The new Talentech will help even more customers to manage recruitment, onboarding and employee development, now also by taking our solutions to the next level,” Leicher ends.
Talentech has appointed Torben Brandt Munch as the new Chairman of the Board. Munch is a strategic board leader and former global CEO with over 25 years of experience scaling B2B software companies through integrations, mergers and acquisitions, and international expansion.
He brings an extensive track record of value creation in private equity-backed businesses, with proven expertise in realizing synergies, driving operational structure, executive coaching, and accelerating commercial performance.
“I am excited to join the Talentech Group to form an absolute market leader with a strong foothold in the Nordics and a huge expansion potential.” says Torben Brandt Munch.
Grade was acquired by Viking Growth in 2021 through the merger of Grade, Varbi, and Workbuster, followed by add-on acquisitions such as Jobbnorge and Kuntarekry. Talentech was established by Verdane in 2019 through the acquisition and merger of HR Manager and Webcruiter, followed by several additional acquisitions. This transaction is a 50/50 merger of the two companies.
Established in 2013, Grade is a prominent player in HR, training, and talent management in the Nordic region. Grade has over 680,000 users on the platform, attracting customers from medium and large private companies to public organizations and municipalities. The company has over 200 employees in offices in
Oslo, Bodø, Stockholm, Lund, Trollhättan, Oulu and Helsinki. Since 2021, Grade is owned by the investment company Viking Growth.
Talentech was established in 2019 to make it easier for HR professionals to drive growth by recruiting, developing, and retaining the right talent for small and medium-sized businesses (SMEs), large enterprises, and government clients across the Nordics. In a short period of time, Talentech has positioned itself as a leading provider of integrated recruitment and HR solutions. With over 600,000 users and 350,000 annual recruitments, the company processes 10 million job seekers each year. Over 200 employees work at Talentech's offices throughout Europe, with main locations in Oslo, Amsterdam, Stockholm, Helsinki and Copenhagen. The company is owned by the private equity company Verdane.
Viking Growth is the leading investor in Nordic B2B software, with over two decades of experience helping ambitious companies scale globally. Headquartered in Trondheim, Norway, we provide capital, strategic guidance, and hands-on operational support to accelerate growth. Today, our portfolio includes 19 companies across the Nordics with a combined ARR of NOK 4.1 billion.
Verdane is a specialist growth buyout investment firm that partners with tech-enabled and sustainable businesses that help to digitalize and decarbonize the European economy. The flexible mandates of Verdane funds allow it to invest as a majority or minority control investor, replacement or growth capital, in single companies or in portfolios of companies.
Verdane has raised €9 billion in capital and has made more than 200 investments in fast-growing businesses since 2003. Verdane’s team of over 150 investment professionals and operating experts is based in Berlin, Copenhagen, London, Helsinki, Munich, Oslo, and Stockholm, and combines deep sector expertise with long-standing local networks and a presence in core European markets.
Joar Welde, Partner at Viking Growth
Joar.welde@vikinggrowth.com
+47 982 06 930
Kongens gate 8, 7011 Trondheim
© Viking Growth 2025
