Adcore Acquires Swiss e-Business Consultancy
Adcore has signed an agreement to acquire Aseantic, a leading Swiss e-business consultancy. Founded in 1995, Aseantic has grown to 60 employees and work with clients like Coca-Cola, SAP, Unilever, Heineken, Mc Donald's and the Swatch Group. Aseantic is a profitable operation since three years.
Adcore already works with several Swiss clients and since Adcore has a strategy operation established there, the acquisition of Aseantic completes Adcore's digital business offering in Switzerland.
- 'We continue our internationalisation process in Europe. Switzerland is somewhat like Sweden - small in size but large in importance. The Swiss market is a testing ground to many international companies and now we come closer to large corporate headquarters,' says Göran Wågström, Adcore CEO.
- 'One of Adcore's main strengths today is international banking. We already work for large banks in countries like Sweden, Germany and France. Our increased Swiss presence will improve this market capability even more.'
- 'We have found our ideal partner in Adcore', says Aseantic CEO Gian-Franco Salvato. 'Our clients are growing, as are the demands we meet. Adcore's Scandinavian heritage and international record matches our ambition to serve a national market with international muscles.'
Today's agreement means that Adcore buys 100 per cent of the shares in Aseantic. The deal is worth SEK 156 millions (MCHF 28), of which 50 per cent is being paid for in 1.703.280 newly issued Adcore shares, and 50 per cent is paid in cash. A substantial part of this is subject to future performance. Aseantic will be integrated in Adcore operations immediately.