[London, ENGLAND] Swedish Internet agency
Framfab announced
Monday the acquisition of Arexus, described as “one
of the most promising Internet consultancies” in Bulgaria.
The acquisition is a new chapter in Framfab’s rapid
expansion. It follows last week’s purchase of Swedish
advertising agency Stenström & Co. and brings
Framfab’s total number of employees to 2,570 in 59
different offices, mostly around Europe but also in
the U.S.
Jonas Birgersson, chief executive of Framfab, said that
Framfab today is working with larger and more complex
multinational projects than ever before and has
a growing need for highly qualified programming
professionals.
“Therefore Arexus, with its strong technical knowledge
and advanced systems development competence, is a perfect
acquisition,” said Birgersson, pictured
here.
Founded in 1998, Arexus — which now becomes Framfab Bulgaria —
has 26 employees and a string of clients that includes
IBM Austria, First Financial Brokerage House, Gamebookers.com,
Intime and Eurofootball.
Framfab will pay for its latest acquisition in newly
issued shares. It will take a majority stake in the
Bulgarian company with an option to acquire the
remaining shares at a later date. Further details
were not disclosed.
In August this year Framfab bought the Norwegian
consultancy NettX Consult AS, a company of similar
size to Arexus with several blue-chip Norwegian clients.
Now Framfab has operations in Bulgaria, Denmark, France,
Germany, Italy, the Netherlands, Norway, Sweden, the
U.K. and U.S.
Striving hard to be different, Framfab has recently
changed its corporate identity, adopting a Fast Forward
symbol and even going so far as to print the name of
the company upside down.
“We have to think differently and be able to turn things
upside down to find the right new way,” explains Framfab.
With so many acquisitions being made, there seems to be
little danger that anyone at Framfab will turn the Fast
Forward symbol back to front.