Nordic Business Report-June 15, 2006-Powel ASA acquires GIS software
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The Norwegian software company Powel ASA said on Thursday (15 June) that it has entered into an agreement to acquire the GIS solutions package Argus from Ramboll Danmark A/S.
The transaction covers the Argus product line, current clients and contracts, including maintenance agreements worth some NOK2m per year.
Argus enables utilities to store geographical data in a standard SQL database for use in the creation of detailed network inventories.
"The acquisition of Argus software and its customer portfolio in Denmark gives Powel ASA a leading position within the utilities in Denmark," said Steinar Muri, vice president at Powel.
"This transaction is an important part of our strategy to extend our business abroad and increase market share in growing utility markets, including Denmark," Muri added.
The financial details of the deal were not disclosed.
One Norwegian krone (NOK) is worth approximately 0.09 British pounds (GBP).
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