As a part of Semcon, we will work on new exciting projects that combine digital and physical solutions. "Squeed's employees are accustomed to working on projects that span across innovation and business development to implementation. In 2020, sales amounted to SEK 105 million and operating profit to SEK 14 million, yielding an operating margin of 13 per cent. Squeed, which will join Semcon's Engineering & Digital Services business area, has 95 employees and strengthens Semcon's presence mainly in Göteborg and Stockholm, but also in Oslo. This generates opportunities for us to work with customers in new industries, such as retail, finance & insurance and media," says Markus Granlund. "The acquisition of Squeed will complement the Group's existing digital offering in, for example, AI and smart products with additional cutting-edge expertise in full-stack development and cloud services. It is a strong driver of change and creates new opportunities for more sustainable and user-friendly digital solutions. It will be extremely inspiring to work together and provide even better support to our customers in their digital transition," says Markus Granlund, CEO of Semcon.ĭigital technology is rapidly changing products and services and the digital transformation is impacting every industry and end user. "Squeed is a strategically important acquisition that will add a further almost 100 fantastic colleagues to our company as well as new and exciting customers. Squeed's strong position in software development and agile change management complements Semcon's digital offering, adds new sectors and broadens the Group's customer portfolio. Semcon is acquiring 100 per cent of the shares in the Swedish IT company Squeed AB, which reported sales of SEK 105 million in 2020.
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