Nordic Business Report-July 10, 2006-DebiTech AB and DIBS to merge
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The Swedish Internet payment solutions supplier DebiTech AB said on Monday (10 July) that the boards of DebiTech and the Danish company DIBS have decided to merge the two companies.
The merger will create Scandinavia's leading e-commerce payment services company, according to DebiTech.
DIBS and DebiTech are expected to handle 4,000 customers' transactions during 2006 with a value of SEK30-40bn.
The reason behind the merger is that the companies claim to have identified major economies of scale and scope in merging rather than continuing to operate separately.
One Swedish krona (SEK) is worth approximately 0.07 British pounds (GBP).
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