Nordic Business Report-July 3, 2006-Prevas AB acquires Avantel AB
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The Swedish IT company Prevas AB said on Monday (3 July) that it has agreed to acquire product development company Avantel AB.
The consideration comprises a fixed part of SEK2m in shares and additional payments of up to SEK5m based on future performance.
Avantel provides product development within electronics and embedded systems. The company has nine employees and is expected to achieve a turnover of SEK7.6m in 2006.
One Swedish krona (SEK) is worth approximately 0.07 British pounds (GBP).
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