Jupiter Targets Nordic Region With Acquisition

Unknown to many of us here on the other side of the Atlantic Ocean, the Scandinavians have been out in the forefront of many Internet-related matters. Today’s Norwegian, Swede, Finn or Danish software engineer is the modern-day version of Eric the Red and his Viking cohorts, leading the rest of Europe.

Jupiter Communications is well aware of the fact, which is why they announced Thursday they have acquired Stockholm, Sweden-based, privately-held, Intelligence AB for an undisclosed sum.

The acquisition gives Jupiter a key foothold in providing research and analysis about new media trends in a very sophisticated market. “It’s a market that in many ways mirrors the United States,” said Kate Berg, the company’s director of public relations.

“It was clearly the most sensible move for us to look at bolstering our offerings and providing our clients with a more robust global vision,” Berg told the E-Commerce Times. “The region does not have exact parity with the United States in terms of adoption and user rates, but it’s fairly close and a very sophisticated market.”

Berg said she first became aware of the technology savvy in the region back in 1992, when she worked for a company doing business there. Even then, she said, while much of the rest of the world was still sending faxes, the Scandinavians were communicating via e-mail and embracing the computer age with open arms.

The rest of Europe looks to Sweden, Denmark, Norway and Finland for many of the new media innovations in Europe, Berg said. The UK – which can be fiercely chauvinistic – is quite open about its desire to emulate the region’s Internet and e-commerce success.

Expanding European Presence

Privately-held Jupiter Communications is widely recognized in the Internet industry as a key research and analysis firm. Its analysts are quoted in newspaper, magazine and trade journal articles on the industry daily.

Founded in 1986, the company opened an office in London last year and currently covers the industry in the United Kingdom, Germany and France. The acquisition of the Swedish company increases the company’s coverage of the continent and is key in its obvious intention to grow.

Jupiter filed for an IPO with the Securities and Exchange Commission late last month, hoping to raise some $57 million (US$).