Swedish Net company Framfab this week acquired Mindfact in Germany and Guide in Sweden, making it the world’s third largest Internet consulting company.
Framfab, formerly known as Framtidsfabriken, extended a SEK 1.5 billion (US$180 million) stock offer to buy publicly traded Guide.
Guide’s main shareholders and board of directors called the move a positive offer and said it went in the right industrial direction for the company. This group represents 66 percent of the shares, and the stock market itself responded positively to the announcement. Johan de Verdier, CEO of Guide, called Framfab “a dream partner for the company.”
Guide Konsult AB is an consulting group which is focused on the wireless market, particularly applications such as Wireless Applications Protocol (WAP).
Through this deal, FramFab will become the third largest Internet consulting firm and will create its own class of service in Europe, said says Jonas Birgersson, FramFab’s CEO. He added that Guide will provide competitive edge with its knowledge on wireless communications, advanced project management and integration experience.
Framfab’s turnover for the past nine months is expected to hit around SEK 672 million (US$81 million). The company plans to continue to grow through acquisitions in Europe and the US.