Nordic Business Report-February 6, 2007-Acando AB expands, acquires Deva Management Consulting AB (C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com Swedish business and IT consulting company Acando AB said on Tuesday (6 February) that it has agreed to acquire consulting firm Deva Management Consulting AB from investment group Deva Group. Deva Management Consulting, based in Stockholm in Sweden, provides services within business intelligence and management consulting. The company has 20 employees and annual sales of SEK27m. Its main clients include H&M, ITT Flygt, Sandvik, Apoteket and Lansforsakringar Stockholm. The acquisition gives Acando a leading position in Sweden, especially strengthening its operations in the Stockholm region. "With the acquisition of Deva Management Consulting, Acando strengthens its offering to its clients in identifying and implementing operational improvements through information technology," commented Lars Wollung, president of Acando. The financial details of the acquisition were not disclosed. Acando is headquartered in Stockholm, Sweden. The company has over 1,000 employees in eight European countries and has an annual turnover exceeding EUR100m. Acando is listed on the Nordic Exchange in Stockholm. One British pound (GBP) is worth approximately 1.49 euros (EUR). ((Comments on this story may be sent to [email protected]))