Elvar Örn Þormar

July 16th 2021 · 1 min read

Reon buys Mannvits shares in Hugfimi

Reon team and Hugfimi team

Software company Reon acquires 70% in data processing company Hugfimi.

We are excited to announce our acquisition of Mannvits shares in Hugfimi. It is a promising company with a lot of growth opportunities especially internationally.

We believe that with our partnership we can add more gravity to product development and build on top of all the great work Hugfimi has done so far. Additionally, we can help them gain traction and increase market share significantly. 

Hugfimi was established in 2015 by Bjarki Ásbjarnarson and Helgi Örn Gylfason in cooperation with Mannvit, the engineering consultancy firm. 

The company was originally founded around the development of the asset summary system EYK, which is a web-based data processing system that makes it easier for companies to manage their portfolios and analyze related data. Currently it's being used in the energy sector but is easily adaptable for numerous markets. Today, the company has offices in Reykjavík and Akureyri and develops and services EYK as well as contracting and consulting in data processing.

Elvar Örn Þormar, our CEO, says the acquisition strengthens both companies as we get access to Hugfimi's knowledge of complex data processing and presentation and Hugfimi gets access to Reon's development teams which enables them to take on larger projects and put more power into the development of EYK. 

Read more about the news here: https://www.vb.is/frettir/hugfimi-geti-vaxid-utan-landssteinanna/167431/?q=hugfimi