Solid Park acquires smaller competitor, Exeo

Sweden M&A 28 June 2018
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Solid Park, a Stockholm, Sweden-based IT consulting company, announced the acquisition of Exeo, a similar, smaller company based in Motala, Sweden.

Both companies provide IT operations, systems development and consulting services to as well private as public entities. The financial details of the deal remain undisclosed.

Solid Park, founded in 2005 and led by CEO Johan Åkerlund, delivers IT operations primarily to small and medium-sized businesses as well as advanced consultancy in system development, system management and IT infrastructure.

Exeo, founded in 2003 and led by CEO Magnus Larsson, is an active consulting company in the Östergötland area (Motala, Linköping and Norrköping) and had sales of SEK 90M in 2017.

Exeo and Solid Park together have approximately 200 employees in Mälardalen, Östergötland and Stockholm, with an expected turnover of more than SEK 300M ($34M) in 2018.

Solid Park is owned by Bas Invest.