Karnov Group

What Karnov Group does

Karnov Group AB (publ) is a Stockholm-headquartered, Nasdaq Stockholm Mid Cap-listed (ticker: KAR) provider of mission-critical legal, tax and accounting, and environmental, health and safety (EHS) information and workflow solutions to European professionals. The company operates a multi-brand portfolio — including Karnov (Denmark), Norstedts Juridik (Sweden), Aranzadi LA LEY (Spain), Lamy Liaisons (France), and Karnov Norway — alongside specialized sub-brands such as Notisum, DIBkunnskap, Echoline, BELLA Intelligence, Legal Cross Border, LEXNordics, Ante, and Forlaget Andersen, serving more than 400,000 professional users across Sweden, Denmark, Norway, France, Spain, and Portugal with content authored by over 7,000 specialists.

The underlying technology is a digital platform combining structured legal databases (legislation, case law, regulatory tracking), editorial publishing, and increasingly AI-powered workflow tools — including the 2026-planned AI legal research platform, the September 2025 AI solution for municipal caseworkers, the Karnov Business Optimiser (a financial-analysis module integrated with CaseWare), and cross-border services like Legal Cross Border and LEXNordics. Approximately 1,100 employees support the platform across regional offices in Stockholm, Copenhagen, and Malmö.

The business model is subscription-based online services augmented by publishing and content licensing. Revenue is generated primarily through direct enterprise sales of recurring subscriptions to law firms, auditing firms, corporate legal departments, and public-sector organizations. The company was founded by Magnus Karnov in 1924 to consolidate Danish law into a single accessible publication, was controlled by Five Arrows Principal Investments (FAPI) prior to its April 2019 IPO at a ~SEK 4.2 billion valuation, and has since executed multiple acquisitions (Wolters Kluwer Sweden 2018, DIBkunnskap 2020, Onlaw 2021, Echoline 2021, Thomson Reuters Spain / Wolters Kluwer Spain-Portugal-France 2022, Schultz Denmark 2024) and one major divestiture (EHS division to Infopro Digital Group for EUR 92 million in December 2025) to focus on its legal and tax core.

Name

Karnov Group

Legal name

Karnov Group AB (publ)

Website

https://karnovgroup.com

Company type

Public

Founded year

1924

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Karnov Group is a Nasdaq Stockholm-listed (KAR) provider of mission-critical legal, tax, accounting, and EHS information and workflow solutions to over 400,000 professional users across six European countries via a multi-brand subscription platform.

Ownership category

akta.pro rank

Product category

Legal Information Services

NAICS

Software Publishers (51321)

SIC

Services-Prepackaged Software (7372)

akta.pro primary industry

Knowledge Management & KCS Programs (BPAEAJAJ)

akta.pro secondary industry

Fund Accounting & NAV Calculation (FSAAAMAB)

Keywords

• Legal information services
• Legal research software
• Tax compliance platforms
• Regulatory workflow solutions
• Professional information subscriptions

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices8 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Subscription-based Online Services: High proportion of revenue from subscription-based online services providing legal, tax, accounting, and EHS information to professional users.
2. Publishing and Content Licensing: Revenue from publishing legal information content, including books, databases, and licensing of proprietary legal data and expert-authored content from over 7,000 specialists.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

Karnov Group provides subscription-based online information and workflow platforms that deliver mission-critical legal, tax and accounting, and regulatory content to European professionals. Its offerings combine proprietary databases, AI-powered research tools, and workflow solutions under established regional brands such as Karnov, Norstedts Juridik, Aranzadi LA LEY, and Lamy Liaisons, serving more than 400,000 users daily across Sweden, Denmark, Norway, France, Spain, and Portugal.

Product overview

Karnov Group operates as a multi-brand platform offering mission-critical knowledge and workflow solutions for European professionals in legal, tax and accounting, and environmental health and safety. The portfolio includes flagship brands Karnov (Denmark), Norstedts Juridik (Sweden with Zeteo and Crito), Aranzadi LA LEY (Spain), Lamy Liaisons (France), and Karnov Norway, alongside specialized sub-brands such as Notisum, DIBkunnskap, Echoline, BELLA Intelligence, Legal Cross Border, LEXNordics, Ante, Change Board Member, and Forlaget Andersen. Core offerings include legal databases, regulatory monitoring, EHS compliance software, digital workflow tools, and AI-powered solutions. The Karnov Business Optimiser module provides financial analysis capabilities with CaseWare integration. The company serves over 400,000 users across Sweden, Denmark, Norway, France, Spain, and Portugal through approximately 1,100 employees and 7,000 specialist authors.

Differentiator

Problem solved

Functional benefit

Brands

• Karnov Business Optimiser: Digital advisory tool developed in collaboration with the Danish auditing industry, providing quick access to advanced analyses, budget simulations and valuations
• Zeteo
• Crito
• JUNO
• Elevate Legal
• Nordic Audit and Accounting Award

Products and services

• Karnov Denmark
• Norstedts Juridik
• Aranzadi LA LEY
• Lamy Liaisons
• Karnov Norway
• Notisum
• DIBkunnskap
• BELLA Intelligence
• Legal Cross Border
• LEXNordics
• Ante
• Change Board Member
• Forlaget Andersen
• Karnov Business Optimiser
• AI Solution for Municipal Caseworkers
• New Generation AI Services

Quantifiable outcome

• 400,000+ users rely on Karnov Group solutions daily to make better decisions faster
• +1 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability3 records

Feature3 records

Partnerships

Three partnerships are on record, tiered major and core.

• Infopro Digital GroupmajorOthers · 8 November 2025Infopro Digital Group acquired Karnov Group's EHS division for EUR 92 million in December 2025, representing a major divestment as Karnov focuses on core legal and tax information operations.
• FSR - Danish AuditorscoreStrategic or Co-development Partner · 13 February 2019FSR - Danish Auditors partnered with Karnov Group in developing the Karnov Business Optimiser digital advisory tool, providing financial analysis capabilities to Danish auditors and accounting professionals through the CaseWare integration.
• CaseWarecoreTechnology or Integration · 13 February 2019CaseWare international software platform integration with Karnov Business Optimiser, enabling auditors to pull customer data into Karnov's analysis engine and transfer analyses back to CaseWare for reporting.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Market position

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/karnovgroupse

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Karnov Group