Cybercom established its UK operation in 2002. Currently, it has 37 employees working on various e-commerce projects. In 2007, Cybercom sales in the UK reached GBP4.8 million.
Patrik Boman, president and CEO of the Cybercom Group, said: Right now, the UK isn’t one of our main markets. And sale of this operation is aligned with Cybercom’s strategy. We want to continue to grow in Eastern Europe and Asia. In addition, this is a good, profitable deal.
Peter Keller-Andreasen, vice president and COO of the Cybercom Group, said: Our profitable, well-run UK subsidiary has an attractive skills base. And this deal confirms that fact. The Digital Marketing Group gave us a very good impression, and we think that our UK colleagues face a great future with this company.
The sale of the Cybercom Group UK operation will be disclosed in the Cybercom Group Europe financial accounts. Advisors for this deal were GP Bullhound and Allen & Overy, said Cybercom.
The Cybercom Group offers global sourcing in segments such as security, portals, mobile systems, and embedded systems. Cybercom has its clients in the telecom industry, media, public sector, retail and banking and financial services; automotive; national defense; and the public sector. The Group employs about 2000 persons and has 26 offices in 10 countries.
