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Framtidsfabriken Acquires U.K. Net Firm

Framtidsfabriken Netsolutions Friday expanded to the U.K. through the acquisition of British Internet, intranet and e-commerce company Vivid Edge.

Framtidsfabriken Netsolutions and Vivid Edge Friday signed a letter of intent for Swedish Framtidsfabriken to acquire 51 percent of Vivid Edge's shares. The agreement also gives Framtidsfabriken the option to acquire an additional 40 percent stake after one year.

This move is Framtidsfabriken's second in Europe in the last month; earlier, the company merged with the Danish company Networkers.

"Vivid Edge has the same company culture. This acquisition helps us to deliver even better services to our multinational customers," said Jonas Birgersson, CEO at Framtidsfabriken Netsolutions.

Vivid Edge provides various Internet solutions, including intranet, e-commerce and database technology. This deal will allow Vivid Edge to expand faster in U.K.

"Our philosophy corresponds well with Framtidsfabiken Netsolutions. Its important for us to offer complete and global solutions for complex Internet projects," said Alex Kelleher, CEO at Vivid Edge. Kelleher is a frequent speaker at conferences in Europe, and has its own radio program with the BBC.

Framtidsfabriken and Netsolutions merged in April to become the biggest Internet company in Scandinavia and one of the leading Internet firms in Europe.