Information Highway acquires Pyramid Communication
Pyramid, which is based in Helsingborg, is one of Sweden's leading companies within the field of strategic market communication. The business, which covers all of Sweden, is primarily focused on the business to business area. Pyramid was started in 1989 and has presently 43 employees and a turnover of just over SEK 40 m with high profitability. Among the clients are SAS, Ericsson, AGA, Perstorp, SKF, Frigoscandia Equipment and Höganäs AB. Pyramid will form Information Highway's Centre of Excellence for market communication on the Internet.
"Pyramid is one of the leaders within business-to-business, which is the prime focus for Information Highway. Through the acquisition of Pyramid we can integrate market communication with our strong knowledge of technology, interaction design and business strategy, which we believe is very important for our future business. We will also become more complete as a company and able to meet the in-creasing demand from our customers," said Göran Wågström, CEO of Information Highway.
"We look forward to working within Information Highway, which we regard as the most competent actor in the Internet field. We will achieve immediate synergy effects, since we already to a certain extent work with the same customers," said Alf Ljungqvist, CEO of Pyramid.
Through the acquisition Information Highway increases its presence in the important Öresund-region and are now around 100 employees in the region, in Sweden and in Denmark.
The agreement, valid as from today, is made conditional upon a satisfactory Due Diligence. Day of taking possession has been decided to 18 February 2000 at which date the purchase sum shall be finally settled.