January - September 2017 report
MultiQ acquired another business. Cygate, a subsidiary of the Telia Group, transferred its digital signage and booking system to MultiQ. The acquisition agreement was signed soon after the end of the period, on October 25th , 2017.
"During the third quarter we were working on another acquisition and on October 25th we made an agreement with Cygate, a subsidiary of the Telia Group, to acquire their digital signage and booking system operations. The deal also involves Telia itself becoming both a new major customer for MultiQ and a reseller of MultiQ's products and services.
There are multiple possibilities for synergy effects. Digital Signage is a major part of MultiQ's existing operations and this acquisition gives us many new customers in this area. Room booking is a new product in our offering that fits very well with many of our existing customers. In terms of resourcs, the deal gives us several skilled new colleagues, who will move into our existing office in central Stockholm, and we will now also have representation in Gothenburg. Together with our headquarters in Lund, we will be able to provide the proximity to our customers that is required for full commitment in the IT industry.
Overall, we at MultiQ are very proud of the great trust we have gained in this business and we will do everything possible to serve our new customers and welcome all our new colleagues!
For the current business, there were continued large orders to existing customers during this quarter as well as an interesting start to deliveries to North America. The quarterly earnings are still positive and show that we are on the right track.
For the future, we still see good opportunities for MultiQ with a clear focus on growth" says Lars Pålsson, acting CEO at MultiQ
Read more in the January-September report (the report is in Swedish)