Swedish IT concerns Framtidsfabriken AB and Netsolutions Sweden AB have merged, forming what is claimed to be the largest internet designer and consultancy in the region, with plans for an IPO before the end of this year.
The new outfit’s chief operating officer, Johan Wall, said the company, now called Framtidsfabriken Netsolutions AB, employs 280 people at offices in four Swedish cities (Stockholm, Gothenburg, Lund and Malmo). Framtidsfabriken was the larger of the two founding companies, with a net profit of SKr14.5m ($1.7m) on revenue of SKr100m ($12m) last year, while Netsolutions had SKr2.5m ($300,000) on revenue of SKr44m ($5.2M).
Wall was previously head of Netsolutions, and his counterpart at Framtidsfabriken, Jonas Birgersson, is now CEO of the merged company. The merger was prompted by the demands of major corporate clients (which include vehicle manufacturers Volvo and Saab) for suppliers able to provide services internationally.
Wall said the company plans to list on the Stockholm stock exchange later this year, prior to beginning an acquisition drive aimed at UK, German and Scandinavian internet. The company expects to raise $12m for these acquisitions.
