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Technology / AI and automation

ECSOFT EXPANDS WITH SCANDINAVIAN PURCHASE

ECsoft Group Plc has continued its expansion plan with the acquisition of Norwegian application development outfit Information Management AS. Information Management is only a year old, and was set up to serve Norway’s growing client-server marketplace. ECsoft will pay for the acquisition with its own shares – with the final amount dependent on results. So far Information has received $5m worth of shares, and there is potential for the company to receive up to $10m. Information Management will be integrated into the ECsoft Norway operation and the Berkhamsted UK company will inherit Information Managements 45 staff members and customer base. The deal will enable the information technology services company to expand into the Norwegian public sector and forms the second such purchase for ECsoft in recent months. In July the company bought Swedish client-server mainframe company Astral AB (CI No 3,134), and Forbes Cook of ECsoft’s investor relations says the company is focusing on building its presence in the UK and Scandinavia. Cook says when it comes down to business divisions, the UK seems to be stronger on client-server and object technology, where as Scandinavia is much hotter on electronic commerce. This, he says, is largely down to communications infrastructures, ISDN lines being installed as a matter of course in Scandinavia. The purchase forms the latest stage of ECSoft’s expansion plans, and there will be more to come, says the company.

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CBR Staff Writer

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