ÅF acquires Combra AB
For further information, please contact:
Johan Olsson, Senior Vice President, Systems Division
+46 (0)8-657 17 71 / +46 (0)70-249 00 75
Viktor Svensson, Director, Corporate Information
+46 (0)8-657 12 01 / +46 (0)70-657 20 26
ÅF has acquired the IT consulting company Combra, which has almost 60 employees in Stockholm, Uppsala and Lund. Combra is a specialist in embedded systems for applications in the telecommunications, medical technology and hi-tech industries. The company, founded in 1994, has reported good growth with sustained profitability over recent years.
The purchase price is SEK 30 million, approximately half in cash and half in the form of newly issued ÅF shares (series B). The deal also opens the way for a possible additional purchase price based on Combras results during the next three years.
This latest acquisition reinforces the ÅF Group's Systems Division and advances its position as a leading supplier of services for product development and embedded systems. The takeover brings the number of Swedish-based employees in the Systems Division to approximately 330.
"Combra is a profitable, well-managed company which enjoys long-term relationships with its clients and has skilled employees. It is a company that is very reminiscent of ÅF. Combra will strategically strengthen our market presence in sectors such as telecoms, hi-tech industry and medical technology," says Johan Olsson, Managing Director of ÅF Systems.
"ÅF has a very strong brand and a good reputation in the consulting sector.
HiQ's strong position in the region will provide us with plenty of opportunities for new business within telecoms and the automotive and life science industries," says Johan Norberg, Managing Director of Combra.
The ÅF Group is a leader in technical consulting, with expertise founded on more than a century of experience. We offer highly qualified services and solutions for industrial processes, infrastructure projects and the development of products and IT systems. We are also one of the leading names in testing and inspection. Today the ÅF Group has more than 3,500 employees. Our base is in Europe, but our business and our clients are found all over the world.