Norway's EDB Business Partners, one of the Nordic region's leading IT companies, has acquired TeamR3, a Danish IT company specialising in SAP-related consultancy. EDB will pay DKK 77 m (USD 13.9 m) as well as a performance-based payment of up to DKK 31 m (USD 5.6 m) covering the period up to and including 2010.
TeamR3 will be merged with Spring Consulting Denmark, a subsidiary of EDB Business Partners, and the combined business will comprise around 100 people based in offices in Copenhagen and Viborg, Jutland.
Claus Hornbæk Nielsen, director of Spring Consulting says: "Merging with TeamR3 means that we can now offer even more advantages to both customers and staff. We are strengthening the professional environment in Denmark, while at the same time gaining critical mass locally to take on larger tasks in all parts of the SAP system."
Kim Nielsen, director of TeamR3 comments: "We have had a good dialogue with Spring Consulting and EDB for some time, and we are convinced that we will gain the best framework for further developing the company. We will be even stronger in Denmark, and we can draw on the best SAP expertise in the Nordic region, where we now have 300 staff who are engaged on a daily basis with SAP."
TeamR3 was established in 1999 and employs 80 people. Its customers include Vestas, KMD, Carlsberg, SAS, Grundfos, Danfoss, PFA and Louis Poulsen. In 2006, the company generated revenues of DKK 60 m (USD 10.8 m). The news was reported by Comon and on the websites of TeamR3 and EDB.