Atero AB has 15 employees and are specialists within software development, system design and communication for embedded solutions and IoT.
The deal will further strengthen Sylogs strong position in Sweden within the R&D services segment. Data Respons has had 30% growth in revenue in Sweden year to date and the deal will further strenghten the position.
“We are very happy to announce that Data Respons has made another successful deal. It clearly proves that Data Respons is able to deliver high organic growth as well as acquiring new exciting businesses within the fast growing IoT space. Additionally, the terms of the deals prove that the sellers believe in the synergies of joining Data Respons”, says Narve Reiten, deal partner at Reiten & Co.
The deal done on a 100% equity basis and Atero AB expect to deliver MSEK 20 in revenues with a 15% EBIT margin in 2016. The deal structure is part cash consideration and part earn out dependent on EBIT over the next 3 years.