Fujitsu Services, one of Europe’s leading IT services companies, today announced a recommended offer for all the shares in Mandator AB (publ) at a price of SEK 3.00 in cash per share.
The price offered for the shares represents a significant premium of 30% compared to the volume weighted average trading price of Mandator's shares in the 10 trading days prior to the announcement of the offer. The Board of Directors of Mandator unanimously recommends the shareholders of Mandator to accept the offer.
Sweden has a large IT services market which Fujitsu Services believes has a strong growth potential. It is also home to many important global brands.
Mandator is a successful and growing IT services business which employs more than 560 people - 390 being based in Sweden, 100 in Estonia (also a preferred near-shore location for Nordic customers) and the remainder in Denmark and the UK.
Mike Stares, managing director of Nordic operations, Fujitsu Services, said, “Mandator’s capabilities in application services, systems integration, project management and consulting are complementary to the strong infrastructure and outsourcing services offered by Fujitsu Services. The combination of Fujitsu Services and Mandator will form the 6th largest IT services company in Sweden with a full range of offerings, a broad base of customers and excellent career opportunities for the people in both companies”.
Full terms and conditions of Fujitsu Services' offer may be found at http://uk.fujitsu.com/offer.
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Date: 08 October, 2007
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