Merit was founded in Norway in 2004, opening offices in Ålesund, Molde and Trondheim. We spent our first years focusing on securing our core market position, while developing in-house solutions for Infor M3, namely by using transaction reports, business intelligence and processing via mobile devices as key elements to increase the competitive advantage of our customers. These solutions, associated to our support concept, led to rapid expansion, first at national level and later internationally.
Since its inception in 2004 until today, Merit has grown systematically every year. We have, through strategic acquisitions, secured a presence in nine countries, with more than 270 employees, supplying services to 500 clients in 18 countries. In the period between 2008 and 2010, Merit branched into the UK, Finland, Sweden, Denmark, Switzerland and Germany, always through strategic acquisitions. In 2012 merged with Capesso, seeing a considerable increase of the market share in Norway. In late 2012, we established our company in the Czech Republic, hiring in Czech Republic through our subsidiary in Switzerland. We have opened offices in Brno, currently with 6 employees.
Since opening for business in 2004, we have increased our sales from NOK 24 million to NOK 317 million. We expect Merit to continue to fulfil its objectives: to create value for its customers as well as for its shareholders. For that reason, we foresee that we will continue with recruitment and training of additional consultants, while strengthening our position in target markets.