dcsimg
RealTime IT News

Icon Medialab Acquires Two More Firms in Europe

Swedish Internet company Icon Medialab continued along the acquisition trail Tuesday with the purchase of Circle Innovation in Norway and MetaDesing London in England.

Circle Innovation AS is focused on technical architectures, object-oriented system development, user training, data warehouses, e-commerce and ERP-systems. Financial details of the purchase were not disclosed.

The Norwegian IT consultancy will merge operations with Icon Medialab in Norway; together they will have more than 130 employees in Oslo.

The same day, Icon Medialab also acquired MetaDesign London. MetaDesign London will be responsible for maintaining and developing interactive branding as a particular skill set throughout the entire Icon Medialab group of companies. The two firms will merge the London units of operation.

MetaDesign London has a projected turnover of #1.8 million (US$2.8 million) for this year. The acquisition is financed through a Icon Medialab issue of 277,916 shares.

"MetaDesign London matched Icon Medialab splendidly with their values of people-centred design and their multi-national and multi-lingual mixture of employees," says Ulf Dahlsten, President and CEO of Icon Medialab International AB.

Icon Medialab has 18 offices worldwide with a projected net revenue of SEK 400 million (approx. US$50 million) for the past year.

The company purchased US-based Nicholson NY last month for $68 million.