Two Leading Net Companies Merge in Sweden
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The new company will have combined sales of 144 million kronor (US$18 million) in 1998 and a crew of 270 people.
The company is expected to trade in Stockholm Stock Exchange this year.
The merger was forced by customers and by multinational companies, who require partners to assist on several markets. To compete, the leading companies merged to handle bigger accounts.
"With the IPO later this year, we can make an international expansion. It is also very important to have a strong board of directors, " says Johan Wall, the founder and CEO of Netsolutions and the COO of the new company. Board members include chairman Carl Wilhelm Ros, first vice president at Ericsson, Bertil Villard (Vinge, Sweden), Paul Saffo (Future, USA), Sven Skarendahl (Intermec Technologies, USA) Ken Ceder (co-founder of Framtidsfabriken), Johan Wall (CEO of Netsolutions) and Jonas Birgersson (CEO of Framtidsfabriken). Icon Medialab and Spray Razorfish are two of the more well-known competitors in the market.