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WPTG to acquire the Swedish IT consultancy Icecon AB
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Finans |
| Industri | Övriga finansiella tjänster |
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Stockholm, Sweden, 2025-12-18 - White Pearl Technology Group AB (WPTG), a Swedish Global Tech Company, today announced that it has entered into a letter of intent (“LOI”) with the owners of Icecon AB, a Swedish IT consultancy with specialist expertise in software development, project and product management, and system integration, regarding the acquisition of 100 per cent of the shares in the company. Pursuant to the letter of intent, the sellers may receive an initial purchase consideration of approximately SEK 7.0 million, half in cash and half in the form of newly issued shares in White Pearl Technology Group AB, corresponding to a value of SEK 3.5 million. In addition, an earn-out consideration may be payable after 36 months, based on the company’s financial performance in relation to predefined performance targets.
During the financial year 2024, Icecon reported revenue of approximately SEK 18.6 million with an EBITDA result of approximately SEK 2.7 million.
The acquisition forms part of WPTG’s long-term strategy to further strengthen the Group’s geographical presence and growth in Sweden and Europe and is expected to strengthen WPTG’s position within mission-critical IT environments and advanced system integration, as well as contribute to the Group’s continued geographical expansion in Sweden and Europe. The acquisition is also expected to create conditions for long term value creation through commercial and operational synergies within the Group.
Completion of the acquisition is subject to a satisfactory due diligence process and the parties entering into a final share purchase agreement.
About Icecon AB
Icecon AB is a Swedish IT consultancy primarily operating in northern Sweden, with offices in Umeå, Luleå, Kramfors and Gothenburg. The company was founded in 2010 and currently employs approximately 12 people.
Icecon provides advanced services within software development, project and product management, and system integration. The business also includes solutions within cloud services, system delivery, infrastructure and operations, with particular expertise in RPG and Java applications, system integration, communications and IT security.
The company specialises in the IBM Power platform and is certified as an IBM Advanced Business Partner for both hardware and the OS400 operating system. Icecon delivers consultancy services to customers across several technology-intensive sectors, including banking and finance, automotive, transportation, and the forestry and timber industries.