24SevenOffice Scandinavia AB purchases 51% of Busy Technologies AS

24SevenOffice, an Oslo, Norway-based software company announced that it bought the newly started company Busy Technologies AS.

The transaction was made for SEK 4M ($410k) - 24SevenOffice will get 51% ownership through a combination of share purchases from existing shareholders and an issue.

24sevenoffice has developed a time reporting module based on the calendar. The product also integrates with other common business calendars, including Google and Office 365. The company has a total of 5 employees, of which 3 are shareholders and will continue as shareholders after the transaction. 24SevenOffice has secured an option to buy up 100% in 3 years, where the valuation depends on sales and growth in Busy.