Cybercom continued to buck the trend in the consulting business 2002. By way of an acquisition, the company was entering the exciting UK market. Straight into London - Europe's financial centre.
Following a lengthy period of negotiations, it was decided that Cybercom acquired the UK consultancy firm Stratum Project Management (now Cybercom Group UK). It was an unusual event considering the state of the economy in 2002, but it is nevertheless a far cry from the heydays of the IT frenzy. In early 2002-2003 most Swedish IT companies had varying strategies when expanding abroad. Acquisitions have often been carried out without meeting the demands on profitability.
"Our strategy is to make sound acquisitions based on our business activities that contribute to both profitability and growth", says Mats Alders.
Why exactly did you choose Stratum?
"It's a nischel company that in many ways resembles Cybercom. Both companies are still going strong in spite of the turbulence that has characterised the IT business lately. Stratum has a strong position in banking and finance - which brings added competence to Cybercom.
What does this acquisition mean for Cybercom's customers?
"Cybercom is well on its way to becoming an european specialist in the finance and telecommunications sectors. Since many customers are becoming increasingly international, Cybercom can play a role in that development."
Facts
Stratum was founded in 1995. It was a consultancy firm primarily active in the following market segments: banking, finance, and telecommunications. Their main customers has been, amongst others, Reuters, The Royal Bank of Scotland, Coutts, LIFFE, Kleinwort Benson and Cable & Wireless. In the area of financial services, Stratum carried out large project assignments that are distributed on the Internet as well as the integration of complex support systems. |