MultiQ completes the acquisition of Telia Cygate's Digital Signage operations
MultiQ has today completed the acquisition of the Telia Cygate business called Digital Media Distribution, DMD, as previously announced in a press release on October 25, 2017.
Cygate is one of Sweden's leading system integrators and part of the Telia group. The operations acquired include digital signage and booking system for conference rooms.
MultiQ, Telia and Cygate also initiate a long-term partnership to meet the continued demand for DMD services from Telia and Cygate's customers.
"MultiQ continues its growth, now with an acquisition of thr Cygate business that fits very well with us. We have received a very positive response from customers of Cygate in Digital Signage and Room Booking. We also want to welcome all our new skilled colleagues who move into our Stockholm office today, "says Lars Pålsson, acting CEO of MultiQ.
As previously announced, the MultiQ business is motivated by an increased customer base as well as long-term synergies and a consolidation of the market. The operations acquired have sales of approximately SEK 15-20 million per annum. The transaction is expected to have a positive impact on profit as early as 2018. The acquisition is being financed with existing lines of credit.