Lemminkäinen divests Lemcon Networks' software business
LEMMINKÄINEN CORPORATION NEWS 10 APRIL, 2014 AT 8:00 A.M.
LEMMINKÄINEN DIVESTS LEMCON NETWORKS' SOFTWARE BUSINESS
Lemminkäinen divests Lemcon Networks’ telecom network project management software business to Intelli Group Holdings Inc. The parties have agreed not to disclose the transaction price.
The divested operations have been part of Lemcon Networks, which is 100% owned by Lemminkäinen. Lemcon Networks provides professional project management, implementation services and software solutions for mobile telecom network projects. The divested business has a staff of approximately 15 professionals.
In 2013, Lemminkäinen announced the divestment of Lemcon Networks' businesses in both the Americas and Asia. On 3 April 2014 Lemminkäinen signed a conditional business purchase agreement for its telecom networks business in Sweden and Norway. Lemcon Networks' Finnish business continues its operations normally.
Intelli Group Holdings Inc. (IGH) focuses on international telecommunications and infrastructure sector and business development on emerging markets. The company has offices in Denmark and the United States.
Leena Arimo, Managing Director Lemcon Networks Ltd.
Tel. +358 2071 53499
Together with our customers we create conditions that make living, working and travelling functional, safe and healthy. We operate in Northern Europe and employ about 7,800 experts. In 2013, our net sales were about EUR 2.2 billion. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Nordic Exchange Helsinki. www.lemminkainen.com