Rejlers acquires Embriq and expands

Swedish company Rejlers has signed an agreement to acquire 88.52 percent of shares in the Norwegian IT company Embriq AS, including its subsidiaries, from the Hafslund group. The set purchase price came to 78MNOK, the acquisition was paid in cash.
The acquisition places Rejlers as the premier engineering consultancy company in the Nordic area, with full scale IT services within the rationalisation of infrastructure and energy.
Through the acquisition, Rejlers has nearly 2000 employees who can offer an even wider range of specialised services and complete project control. The acquired company is expected to give a turnover of 60MNOK during the remainder of 2015 and 240MNOK in turnover during a 12 month period. Embriq has 120 employees in Norway and Sweden. With the takeover, Rejlers Norge will have an annual turnover of 550MNOK with nearly 400 employees. Embriq supplies IT operating services to customers across the Nordic area and has the leading expertise in Norway within the development and delivery of the next generation electricity network, Smart Grid.
In addition, Embriq is the leading company in Norway for energy measurement services, a field in which Rejlers is already strong in Sweden and Finland.