Many ICT companies are transforming, going from a product focus towards more service focused business approaches. This transformation process has been on-going for a couple of decades now and places high demands, not only on the technological development and business models but also on the companies ability to mature and transform the organizational setup, leadership capabilities, and the need for different types of competencies. This paper analyzes the servitization process within the ICT industry by presenting a case study that addresses the organizational challenges and gives tentative answers on how to cope with them.