SWG designs, develops, implements and supports its own software for over 1,000 customer sites across the globe. Its two applications are QFM – designed for the traditional facilities management (FM) market and P3rform, to manage the performance of operation and maintenance (O & M) Public Private Partnership (PPP) contracts. The company with 71 employees was founded in London and has operations in the UK, Australia, Canada and the Gulf states. For more information about SWG please visit www.swg.com 

Addnode Group's Design Management division has a strong service and software offering for Facilities, Property and Workplace Management software in the Nordic countries under the brand Symetri. SWG and Symetri will work together on a global basis to service a rapidly expanding market with software and services.  

-"At SWG, we are delighted to join forces with Addnode Group to deliver a broader technology and service platform. Together with Symetri we will be able to provide a more extensive and compelling offering to the global market and continue our strong growth," says Gary Watkins, CEO at SWG.

– "With the strategic acquisition of SWG we are now expanding into new geographies as well as strengthening our portfolio with products for the management of Public Private Partnership (PPP) and performance based contracts. As a result, we will be able to jointly deliver a more extensive portfolio of solutions to our customers in both the Nordic countries, where we have a significant position, as well as in UK and other markets, such as Australia and Canada, where SWG has a strong presence," says Rolf Kjærnsli, President of Addnode Group Design Management.

The Transaction

Signing and Closing took place today on July 31, 2017 and SWG is consolidated as part of the Design Management Division in Addnode Group. The initial purchase price for all shares in SWG amounts to SEK 132 million, subject to an adjustment based on the actual level of net cash and net working capital in SWG, at 31 July 2017. The acquisition was paid in cash on completion. In addition, a capped conditional purchase price of SEK 62 million is payable if certain targets are achieved linked to SWG's operating profit during its financial years 1 November 2016- 31 October 2017 and 1 November 2017- 31 October 2018. The acquisition is financed through Addnode Group's existing credit facilities and is expected to have a positive impact on Addnode Group's earnings per share. The sellers of SWG are a group of private individuals, some of whom are also employees in SWG. The transaction was not subject to any conditions for completion to occur.

This information is such that Addnode Group AB (publ) is obligated to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 18.30 a.m. CET on 31 July 2017.