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KioskCom exclusive: Changes in the works at Degasoft

Degasoft has hired Thor Ibsen, recognized as one of the top technology executives in the world, to boost the kiosk software maker to a new level. The company also plans to move its headquarters from Iceland to London, and is taking on a major new investor.

June 26, 2003 by

ORLANDO, Fla. - In an exclusive interview with KIOSKmarketplace, the new president and chief executive officer of Degasoftrevealed that the software company plans an immediate and rapid expansion, moving its headquarters from Iceland to London. It also plans to use an infusion of venture capital from an unnamed "world-class" firm to build a much larger business.

Thor Ibsen, who has been Ford Motor Co.'schief Internet activist since 1997, talked with KIOSKmarketplace at the conclusion of KioskCom, where Degasoft released a new version of its Kudos kiosk management product.

The 35-year-old wunderkind was recently recognized by Fast Companymagazine as one of the key players in technology today. He said he is currently transitioning from Ford to Degasoft, and expects to be at his new job full-time by June 1.

"There are many big things happening at Degasoft," Ibsen said. "We're solving problems that other people are only talking about."

Ibsen, a native of Iceland who moved to America in 1989, became familiar with Degasoft when Ford became a Degasoft client. Degasoft's client list includes Jiffy Lube, Virgin Records in the UK, and Hitachi in Japan.

The decision to move the company to London was made by Ibsen and Degasoft founder Gunnar Hansson, who will remain on the company's board but will not move from Iceland.

"If we wanted to be in the main league, we would have to move," Ibsen said of his conversation with his countryman Hansson. He said eight families will make the move to London immediately. He expects to add as many as 40 new employees this year.

The financing of the changes at Degasoft is being made possible by a significant new venture capital partner, though Ibsen said he couldn't reveal the name of the VC or the amount being invested. He did say that the new partner is not an American company, and that its stake will be about 25 percent of the firm. Employees, investors and its U.S. distributor, Touchpoint Technology Corp., own the rest.

Ibsen said the changes will propel Degasoft revenue dramatically, with sales efforts focused on OEMs, kiosk manufacturers, resellers and integrators around the globe.He said that knowing the potential for the industry and Degasoft convinced him to make a career change. He has been an advisor to the company for the last year, but said he originally shrugged off the idea of running it.

"I became so excited about the industry and the company," he said. "It's a teenage time for the company. I want to take it to adulthood."

And while Ibsen wouldn't speculate about the privately held firm's potential revenue this year, he made it no secret that he expects to be a significant player in the kiosk world.

"I'm not coming here to run a $2 million company. We're looking for tens of millions."