Skanska strengthens IT expertise - acquires IT-infrastructure companies, Böge Larsen Projects Oy and Proconord International Oy
Skanska has acquired 100 percent of the shares in Finnish companies Böge Larsen Projects Oy and Proconord International Oy, “Telecom Services Group”. The acquisition price amounts to FIM 78 M, about SEK 108 M. The sellers are the Finnish company Projektikonsultit and a number of private investors. The acquisition is part of Skanska’s intensified focus on telecom and Internet infrastructure.
("Read more" links to Skanska's press release)
June 16, 2000 Skanska acquires Europe-leading expertise companies in technology, design and project management for IT-infrastructure Skanska has acquired 100 percent of the shares in Finnish companies Böge Larsen Projects Oy and Proconord International Oy, "Telecom Services Group". The acquisition price amounts to FIM 78 M, about SEK 108 M.The sellers are the Finnish company Projektikonsultit and a number of private investors. The acquisition is part of Skanska’s intensified focus on telecom and Internet infrastructure. The Telecom Services Group specializes in technology, design, planning, project management and installation of networks for telecom and data communications, for example broadband networks, base stations for GSM as well as central data facilities. The Telecom Services Group’s total fees for design and management assignments are expected to total FIM 100 M, about SEK 140 M, this year, a doubling compared with 1999. Operating profit in 2000 is expected to be FIM 10 M, about SEK 14 M. The Group has a total of 92 employees. "The acquisition is another step in Skanska’s focus on the growing market for telecom and Internet infrastructure. As a result of the acquisition, we complement and strengthen the Group with unique IT expertise and gain valuable leading-edge expertise to be able to offer customers end-to-end solutions, with an assumption of total responsibility," says Claes Björk, President and CEO of Skanska, commenting on the acquisition. "The Telecom Services Group also adds new and attractive customers and markets, mainly in Europe. Combined with Skanska’s financial strength and global customer sphere, this offers highly favorable expansion potential. The European market for network planning, project management, installation, maintenance and operation of telecom and datacom networks exceeds SEK 300 billion annually. Skanska’s goal is to be one of the leading companies in the area. We will see a growing need for these services from telecom companies that outsource parts of their operations," says Anders C. Karlsson, President of Skanska Europe AB. The two Telecom Services companies are ranked among the leaders in Europe in the telecom and Internet infrastructure sector and have operations in Sweden, Norway, Denmark, the Netherlands, Russia, Poland, Hungary, Czech Republic, Estonia and Azerbaijan. Last year, the Group participated with project solutions and in the expansion of mobile telephony and the Internet in 16 countries, including Turkey, Jordan and Saudi-Arabia. The Telecom Services Group’s customers include Nokia, Ericsson, Sonera, KPNQWest and a number of national and private operators of mobile networks and the Internet. The two Telecom Services companies have 32 years of experience in project management in telecom and data-related installations. Currently, Skanska has IT-related projects for about SEK 20 billion in the US, Argentina, Sweden, Denmark and Hong Kong. Skanska and US-based MasTec have formed an alliance for IT infrastructure construction projects. ____________________________________________________________ For further information please contact: Anders C. Karlsson, Head of Skanska Europe AB, Tel +46 40 14 42 43 Peter Wallin, Head of Investor Relations, Skanska AB, Tel +46 8 753 88 86