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Corporation
FINANCIAL | Insurance / Insurance Broker
codan.dk

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Portfolio Exits

1

About Codan

Codan is a corporation that provides insurance options for travel, health, accidents, pets, boats, businesses, and more.On March, 17, 2021, Codan was acquired by Tryg and Intact Financial. The terms of the transaction were not disclosed.

Codan Headquarter Location

Gammel Kongevej 60

Copenhagen, 1790,

Denmark

+45 33 55 55 50

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Latest Codan News

Calibre One overhauls Codan's UC capabilities

Jan 20, 2022

Calibre One overhauls manufacturing firm Codan's UC, videoconferencing capabilities By Nico Arboleda on Jan 19, 2022 6:08PM In The Spotlight Managed services provider Calibre One has been tapped to overhaul Australian manufacturing firm Codan’s unified communications and videoconferencing capabilities. ASX-listed, Adelaide-headquartered Codan manufactures technology and electronics for mining, government and humanitarian aid customers, including communications, metal detection and other mining technology. It has staff across Australia, Brazil, Canada, Denmark, Ireland, Mexico, Singapore, the UAE, UK and USA, with products sold in some 150 countries through a global network of dealers, distributors and agents. The company sought Calibre One to replace its legacy videoconferencing system with a new “global collaboration hub” built from Poly, Biamp, Shure, Samsung and LG hardware solutions integrated into Codan’s existing Microsoft Teams setup. The new system was also required to accommodate other collaboration platforms like Zoom and WebEx. The refresh aimed to help Codan fuel its growth aspirations and adapt to the pandemic with a more immersive solution. Codan operations manager Dave Pilcher said the legacy system was unnecessarily complicated and presented daunting barriers that cruelled user adoption. "With the new Calibre One system, we set out to reduce complexity for users even though the system is technically more complicated,” Pilcher said. “From a user's perspective, it's now far less complex than it used to be." Pilcher added Calibre One’s installation quality encouraged users to conduct remote meetings without needing to tinker with the equipment, ensuring rooms always deliver a “superior” meeting experience. Some of the considerations for the system included one-touch setup, reducing extraneous noise while picking up nuances of speech, providing seamless access to devices, and capturing and reproducing subtleties of body language with no outside technical help. Apart from the UC and videoconferencing hardware, tracking cameras were also installed to enable more natural presentations, while hidden microphones ensured crystal clear audio pickup. Professional audio speakers were added for clear and accurate sound reproduction. Following the refresh, Calibre One said Codan users flocked to the system, holding some 141 meetings to rack up 235 hours of usage over a 90-day period. One such meeting, a recent CEO update, managed to handle a 400-employee session. Major announcements are recorded in Microsoft Teams to help employees in unfavourable time zones, without having to dig around for a recording in a share file. Users have also reported more benefits like reduced trips to the office and a shift in company culture to allow more remote working options. “I was sceptical at the start because we had spent a lot of money on our existing system with little to show. But the experience with Calibre One and the resulting user acceptance converted me to see the value in our new solution, and we now have fewer mad panics from users,” Pilcher said. “Calibre One listened to what we wanted. They found ways to cut costs so we could reinvest in higher quality audio and video, which makes a phenomenal difference to the user experience.” Calibre One chief executive Darren Gore said Codan was impressed with the company’s human-centred design informed by its understanding of client needs. “We eliminated the ‘complex’ for the users. Now the users have no need for technical skills to collaborate with each other. All staff, from the junior to the executives, are able to quickly strike up a high quality and meaningful conversation,” Gore said.

Codan Portfolio Exits

1 Portfolio Exit

Codan has 1 portfolio exit. Their latest portfolio exit was Codan - Danish Business on June 11, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/11/2021

Divestiture

$99M

4

Date

6/11/2021

Exit

Divestiture

Companies

Valuation

$99M

Acquirer

Sources

4

Codan Team

6 Team Members

Codan has 6 team members, including former Chief Executive Officer, Vibeke Krag.

Name

Work History

Title

Status

Rune Olsen Arneberg

Founder

Former

Vibeke Krag

Chief Executive Officer

Former

Terje Finholdt

INSR, Ernst & Young, Factor Insurance Group, Icon Medialab Capital, Arthur Andersen, and FORSVARET

Chief Financial Officer

Former

Henrik Rattzen

Chief Financial Officer

Former

Tage Reinert

Scandlines, MAN Energy Solutions, Nilfisk, Stark Group, and Arthur Andersen

Chief Financial Officer

Former

Name

Rune Olsen Arneberg

Vibeke Krag

Terje Finholdt

Henrik Rattzen

Tage Reinert

Work History

INSR, Ernst & Young, Factor Insurance Group, Icon Medialab Capital, Arthur Andersen, and FORSVARET

Scandlines, MAN Energy Solutions, Nilfisk, Stark Group, and Arthur Andersen

Title

Founder

Chief Executive Officer

Chief Financial Officer

Chief Financial Officer

Chief Financial Officer

Status

Former

Former

Former

Former

Former

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