Samedi 27 Mai @ VIPress.netSemcon acquires 30% of Norwegian design company Devotek
Semcon (sales of SEK 1.5 billion in 2005) will acquire 30 per cent of Devotek. Simultaneously Devotek, a Norwegian design company, will acquire Semcon Norge AS.
“We have worked with Devotek for 3 years and have now chosen to go one step further by acquiring 30 per cent of the company. At the same time we are selling Semcon Norge AS to Devotek. In this way we gain a stronger business on the Norwegian market,” says Semcon’s acting CEO, Lars-Inge Sjöqvist. “Norwegian industry currently has a significant demand for development services. Through joint ownership we gain faster access to a number of different business opportunities.”
The total purchase price is NOK 16 million of which part will be paid to Devotek via a new issue. The planned date for the deal’s conclusion is 2 June. The purchase price of all the shares in Semcon Norge is NOK 7 million.
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