The French Alten Group has made a bid for Xdin AB. The intention of the bid implies the acquisition of Xdin as a wholly-owned subsidiary in order to strengthen their position in the Nordic region where Alten currently have no representation. As a subsidiary company to Alten Xdin will continue to work for its customers as an independent and expansive company. Xdin will also act as a hub for Alten’s plans for continued expansion in the Nordic market.
To our customers the acquisition will mean that Xdin will become part of a significant global actor which will increase Xdin’s expertise and improve opportunities to take larger and more international assignments. Xdin will also be able to satisfy those customers who require project execution with access to offshore services in low-cost countries.
To our 550 employees it will mean improved career opportunities within the Alten Group.
The condition for the acquisition is that at least 95 % of Xdin’s shareholders accept to sell their shares and that Xdin’s four largest customers take a positive view of the move.
CEO Tomas Ängkulle explains, “During the year that we’ve been negotiating the companies have got to know each other well, and my opinion, and that of the management, is that Alten is a very competent and long-term industrial owner. Xdin AB and the Alten Group complement each other very well, both in terms of business as well as geographically.”
About Xdin AB
Xdin develop and deliver competence for world-leading companies through committed technical and IT consultants. We are one of Sweden’s fastest-growing technical and IT consultancy companies operating mainly in the automotive industry, energy, telecom and manufacturing industries. Xdin has more than 550 employees and offices in Sweden and the USA. In 2007 the turnover reached SEK 379 million and growth 2006-2007 was 22 %.
Further information about Xdin can be found at www.xdin.com
About the Alten Group
The Alten Group has close to 11000 employees and in 2007 had a turnover of EUR 701 million. Alten is one of the world’s leading technical and IT-consultant companies with a strong brand and a very stable financial position. Alten has operations in 12 countries and its head office in Paris.
The company is quoted on the Euronext Paris Stock Exchange. Further information about the Alten Group can be found at www.alten.com
For further information please contact:
Tomas Ängkulle, CEO, tel. +46 (0) 31 725 1012
Michael Hallén, Chairman of the Board, Xdin AB, tel. +46 (0)708 13 33 13
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