Sigma acquires part of ZenIT Consult A/S, leading Danish IT consulting company specialized in banking and finance sector.
Sigma continues to develop outside Sweden’s borders. The acquisition of 25% of the Danish IT consulting company, ZenIT Consult A/S, will strengthen Sigma’s position as an international supplier of IT consulting services and major undertakings for customers within the banking and finance sector.
The acquisition of 25% of the Danish company ZenIT Consult A/S is a vital part of Sigma’s strategy to become a leading supplier within strategic areas. ZenIT Consult has been experiencing strong growth in recent years and now has approximately 120 consultants on assignments within primarily the banking and finance sector.
The acquisition will also further strengthen Sigma’s IT Solutions business area, which continues to grow both in Sweden and internationally. ZenIT Consult’s assignments and customers will be an excellent supplement to the customer base and areas in which IT Solutions is active today.
The agreement also includes establishment of ZenIT Consult AB in Stockholm, in which Sigma will be majority owner. This will provide Sigma the possibility of responding to inquiries it currently receives from major companies in the finance sector.
The purchase consideration for 25% of ZenIT Consult A/S amounts to SEK 14 M. There is the option, under certain conditions, for Sigma AB to acquire additional ownership in the company in 2008.
“ZenIT Consult A/S will obviously provide us new customers and contacts in the Danish market. The acquisition also gives us an excellent opportunity for growth within an area in which Sigma is not as well established. We have noticed a strong demand for our industrial and practical approach to viewing project management and the introduction of new business systems and solutions. Consequently, we view the acquisition of ZenIT Consult as strategically important to us, in our ambition to becoming an international consulting company,” says Sune Nilsson, CEO, Sigma AB.
“We are very satisfied with the transaction,” says Michael Willumsen, one of the three owners of ZenIT Consult. Sigma will provide us the possibility to develop in a larger, global perspective than we would have been able to do ourselves. We view Sigma as a long-term, stable owner that opens entirely new opportunities for us in terms of its customer base, expertise and experience in working on international projects.”
For further information, contact:
• Sune Nilsson, CEO, Sigma AB, mobile +46 (0)703-791528
• Michael Willumsen, ZenIT Consult A/S, tel. +45 46 99 19 03, mobile +45 40 94 20 54