Microsoft Buys Icelandic Company

23.9.2009
Words by Paul Nikolov
Tech giant Microsoft has just purchased the Icelandic software company
LS Retail AX for a sum that, while undisclosed, was described by
managing director Gunnar Björn Gunnarsson as "dizzyingly high."

LS Retail offers software solutions to some of Iceland's companies, among them the retail grocery store chains Hagkaup and Bonus. Their software solutions are built on top of Microsoft Dynamics AX.

"Twenty years of tireless work is finally paying itself off," Gunnarsson told Morgunblaðið. "Icelandic companies are doing good things."

The tech industry in Iceland is still growing, but growing fast nonetheless, as more and more people are seeing it as a sustainable industry requiring only the resources of imagination and long hours.

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