LBI creates strategic alliance with AOME in the Middle East with sale of Escador GmbH

LBI International AB (LBI) has sold the German subsidiary Escador GmbH, to Atos Origin Middle East (AOME). The all share transaction gives LBI a 10% ownership interest in AOME and creates a strategic alliance with AOME in the Middle East.

LBI has stated in prior public releases its intention to expand into markets in Asia and the Middle East. This expansion is driven by customer demand from existing clients and the strong economic development in those markets. LBI CEO Robert Pickering says, “Our alliance with AOME through the sale of Escador will accelerate our growth in a region of the world rich with opportunities for the sale of our digital capabilities and solutions as well as the branding strategies offered by our subsidiary MetaDesign. We are excited about becoming the market leader in this region and playing a role in the growth of digital commerce in the Middle East.” AOME is the leading system integrator in the Middle East and greatly facilitates the expansion of LBI into the Middle East. LBI will expand the capabilities of AOME to provide digital customer solutions to their existing clients. LBI will also begin providing brand strategy and development services through its subsidiary MetaDesign. AOME CEO Ferras Zalt says, “The purchase of Escador and the alliance with LBI in the Middle East catapults AOME in its service offerings to clients in this region. We are experiencing the stage of economic market development that is unprecedented in this region. Companies that started in the Middle East are now looking for digital solutions that not only attract customers in this region but that position them to sell services and products around the world. The alliance with LBI combines the market leader in technology services in the Middle East with the #1 European digital services and branding company.” The German subsidiary Escador, with 31 employees, was acquired by LBI in 2003 and provides customer relationship management (CRM) system implementation services to corporations. While these services are outside the focus of LBI, they are highly complementary to the enterprise system development services offered by AOME. LBI’s other subsidiaries in Germany, Framfab and MetaDesign, are not affected by the divestment of Escador and continue to operate as fully integrated units of the LBI family.