Framfab divests IT-Consulting and Integration

Framfab divests IT-Consulting and Integration Framfab has decided to divest Framfab IT Consulting and Framfab Integration to Nordic Capital. A letter of intent has been signed. The purchase price of 170 MSEK is paid in cash. The companies have together 260 employees. The decision to divest the companies is a part of Framfab's strategy to focus its businesses to become a pure Internet professional service. The proceeds of the transaction will strengthen Framfab's financial position and hence enable Framfab to pursue its strategy. "Our close cooperation with these two companies will continue even with the decision to focus Framfab's operations. We have great hopes and interest in the positive development of Framfab IT-Consulting and Framfab Integration together with their new owner", says Johan Wall, CEO Framfab. Nordic Capital perceives this as a strategically important deal and believes that the companies have a great potential together. "ITC and Integration is two very interesting companies with development opportunities. Both companies have a long track record as profitable and high-quality suppliers of services and solutions in the IT sector. With their focus on the core businesses, stable client relations and cutting- edge personnel there is a good possibility to grow, both organic and through acquisitions. Nordic Capital will support the management in its strive to expand the business. The possibilities to a successful cooperation between the companies and Framfab in project where cutting- edge technology competence can interact with Internet solutions are also contributing to our positive view on this deal", says Ulf Ivarsson, Nordic Capital. Management for the companies will remain intact and the employees will be offered employment in the continued operations. Framfab IT-Consulting is focused on advanced services within IT- consulting. Framfab Integration is specialized on the implementation of advanced technical IT infrastructure. For more information please contact: Leif Andersson, vice president Corporate Communications FRAMFAB +46 709 41 22 32, leif.andersson@framfab.se Ulf Ivarsson, Partner Nordic Capital, +46 8 440 50 55, +46 705 91 28 95 Framfab is a global Internet services company whose mission is to create new business for the network economy through strategic consulting and digital services. Framfab differs from other influential players by creating added value for its customers with separate business divisions that compliment the core offering of the Internet services company. These divisions are Boosters, Software and Framfab Labs for Research & Development. Framfab currently runs operations in Austria, Bulgaria, Denmark, France, Italy, the Netherlands, Norway, Switzerland, Spain, UK, Sweden, Germany and the US. Many well-recognized global companies work with Framfab: 3M, AstraZeneca, AXA, Bosch, Carlsberg, Electrolux, France Telecom, IKEA, International Red Cross, Gore-Tex, Groupe Pernod Ricard, Kelloggs, Packard-Bell, Nike Europe, SAAB, SAS, Viag Interkom, Volvo. Framfab is listed on the OM Stockholm Exchange's Attract 40 List (ticker FTID). ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se