Applicon Acquires the IT- Consulting Company Marquardt Partners AB

Applicon Sweden AB, a subsidiary of the Icelandic IT-company Nyherji hf., has today signed an agreement to acquire all shares in Marquardt & Partners AB, a well known IT-consulting company in the centre of Stockholm, servicing the financial services industry with consultancy, software and implementation and support services. Marquardt & Partners are a Calypso partner, a leading provider of capital markets software solutions.

The acquisition is in line with Applicon’s strategy of expanding its software services for the financial services industry in Northern Europe.

Applicon has offices in four countries: Denmark, Iceland, Sweden and the UK. The company’s largest project within the financial services sector has been in Stockholm. The acquisition of Marquardt & Partners is part of an overall effort to strengthen Applicon’s organization in Sweden, enlarging its solution offering to include Calypso and broadening their services to banks and other financial services companies in Northern Europe.

Marquardt & Partners consultants among the best

Marquardt & Partners were established in 1995, and employs over 20 highly experienced consultants that have diverse expertise in software applications such as Calypso and SunGard Front Arena. The company is known for its proven methods for support, maintenance and development of software applications for the financial services sector. Marquardt & Partners have, over time, developed methods and tools to assess mission critical business applications.

Marquardt & Partners and AppliCon Sweden merged

Following the acquisition the operation of Marquardt & Partners will be merged with Applicon Sweden, employing 32 consultants. Plans are then to further expand Marquardt & Partners core services under the Applicon brand name. Applicon Sweden will focus on offering a broad range of solutions and services, primarily within the financial services industry in Sweden. Marquardt & Partners AB employs a strong management team, all of which will move over to Applicon, along with the rest of its outstanding employees. Arne Nabseth will remain the Managing Director of Applicon Sweden and will be supported by Ulf Gerhamn, the former Managing Director of Marquardt & Partners.

One of the leading specialized IT-service companies in the Nordic region

Applicon will be one of the leading Nordic software houses specialising in SAP, Microsoft, Calypso and Front Arena solutions, employing more than 200 consultants. The total turnover of Applicon in all markets was 31 million EUR in 2007.

Numerous new opportunities

Marquardt & Partners AB position within the Swedish market will create a range of new marketing opportunities for Applicon’s solutions and services both within and outside Sweden.

Thordur Sverrisson, the Managing Director of Nyherji hf, said:

 “We envisage that Marquardt & Partners’ consultants will participate in Applicon projects throughout Northern Europe.  This will enable the sharing of know-how and experience between the different Applicon offices, which will again result in better services to our customers. The merger with Marquardt & Partners will also enable us take on larger and more diverse projects within the financial services sector than before.”

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Further details are available from Thórdur Sverrisson, Managing Director of Nyherji,tel. +354 569-7700, mob. +354-893-3630 or thordur.sverrisson@nyherji.is

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