History

In 2003 KRING Development A/S merged with the Danish-Indian company ContinuumIT. Before 2003, KRING Development A/S developed e-business solutions to many well-established Danish customers. ContinuumIT´s core competence was development of software applications through its offshore location, and the company had clients in both Europe and the USA.

The two companies complemented each other; KRING Development having a strong presence in the local market and ContinuumIT, with its offshore development center and clientele around the world, providing a global perspective to the partnership. This combination proved fruitful and in 2003 the two companies merged and became KRING Technologies A/S in Denmark and KRING India Pvt. Ltd. in India.

The concept of KRING Technologies was to give Scandinavian, European, and US companies access to the global division of labor - with a strong focus on flexibility of factors such as company type, culture, and methodology. The objective was to provide the best conditions for supplementing the market and for maximizing value.

In 2005 KRING Technologies entered a joint-venture with a large American client in India. That same year, KRING also established partnerships in Ukraine with two different companies, and as a result of the success of these partnerships, KRING was in 2006 established in Ukraine as an independent company - KRING Eastern and Central Europe.

In September 2008 KRING Technologies changed its name to Initto. The name change marked the completion of an extensive reorganization of the company, a strengthening of processes, and maturation of the business culture. The new company name reflects Initto's overall ambition and objective: to be the 'pound-for-pound' best and most efficient software provider on the market.

In November 2009 Initto teamed up with Saxo Bank. The agreement with Initto has been finalized as part of Saxo Banks strategy of ongoing support and speed up of the development of the trade systems of the company. Initially developers and teams of the size of 50-100 people globally are established, but the long-term plan is to expand the pool of employees attached to Saxo Bank significantly as soon as the business can absorb the expansion. These new developers hired by Initto will work for the development and strengthening of Saxo Banks products and services, as well as act as a new complete platform for Saxo Banks IT tasks. Alongside the client relation, Saxo Bank buys 40 % of Inittos stocks. Inittos own present and future clients will gain from the cooperation with Saxo Bank as a client and shareholder just as Initto will help Saxo Bank achieve the ambition of continuously deliver services of top-quality.

After succesfully establishing teams in both the Ukraine and India, Saxo Bank moves to buy the remaining 60% of Initto stock in july 2010, thus owning Initto entirely. Simultaneously, a strategy of expansion is launched, paving the way to a very exciting future for Initto.