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Eurocon Consulting AB (publ) strengthens IT operations through company acquisition

Feb 18, 2010

Press Release 2010-02-18

Eurocon Consulting AB participated in a management buyout of the TIPS Info operations from Tieto Oy. A newly created company named Eurocon MOPSsys AB, based in Örnsköldsvik, with 16 employees will run this business. The company will have offices in Örnsköldsvik, Storuman and through a wholly owned subsidiary in Vancouver, Canada.

Eurocon MOPSsys’ software applications mainly serve the pulp and paper industry with approximately one hundred installations including Sweden, Finland, Germany, Portugal, New Zealand, Australia, United States and Canada. The historical sales volume is approximately 2M EURO annually with over 80 customers and 20 being handled by Tieto through subcontracting.

Tieto will continue to integrate Eurocon MOPSsys’ software applications in its system deliveries via a Value Added Reseller agreement between the parties.

Eurocon Consulting sees strategic economies of scale arising from the management buyout, especially towards its existing IT operations and their project management tool SiteBase. The deal also creates a strengthening of the service and product offerings that Eurocon Consulting offers its customers in the pulp and paper industry. Eurocon MOPSsys will be owned by Hans Hallin (51%), Eurocon Consulting (30%) and some employees of the company (19%). The closing date is March 1, 2010.

For further information about this transaction and Eurocon Consulting, please contact Peter Johansson (Eurocon Consulting, CEO), by phone 076-767 58 01, Christer Svanholm (Eurocon Consulting, Vice President) by phone 070-696 87 44 or Hans Hallin (Eurocon MOPSsys, CEO) by phone 070-641 11 39