Introduction The year in brief
Powerful expansion characterised Cybercom in 2007 when the number of Group employees tripled to 1,850. Cybercom expanded geographically and successively broadened its market scope. Today it has 27 offices in 11 countries. So the year was filled with key strategic initiatives via the Varchar, auSystems, and Plenware acquisitions plus continued focus on international delivery capabilities and administrative undertakings to keep pace with the continued globalisation trend.
Intensive expansion
Heavy expansion characterised Cybercom in 2007 – particularly via the Varchar, auSystems, and Plenware acquisitions.
Varchar
On 22 December 2006, Cybercom signed an agreement to acquire Varchar, an IT consultancy with about 25 employees and operations in the Öresund region (starting 2 January 2007). The acquisition strengthens Cybercom’s Java and .NET offerings, plus testing and verification.
auSystems
On 20 April 2007, Cybercom signed an agreement to acquire auSystems' Danish, Polish, and Swedish subsidiaries, including about 700 employees (starting 1 May 2007). Cybercom paid SEK 730 million in cash for the debt-free companies.
Plenware
On 18 December 2007, Cybercom signed an agreement to acquire Plenware, a Finnish IT consultancy, with about 550 employees and operations in China, Estonia, Finland, and Romania (starting 1 January 2008). Cybercom paid EUR 32.7 million and assumed EUR 14.2 million in debts and liabilities in Plenware; the deal includes an additional purchase price of maximum EUR 8 million.
New CEO
Patrik Boman assumed his position as new president and CEO in May 2007. From 2000–2006, he was MD of HiQ's Stockholm operation, which is the largest within that Group. Before HiQ, he held prominent marketing- and sales-oriented positions at international businesses such as Telia and AT&T Unisource.
Peter Keller-Andreasen, acting president and CEO until May 2007, was appointed vice president.
