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ÅF acquires Xact

Thu, 16/01/2014 - 08:30 CET
Per Magnusson, President, Industry Division     +46 70 676 64 26

Viktor Svensson, Director Corporate Information +46 70 657 20 26

ÅF acquires Xact, a Norwegian engineering company with about 90 employees, and
strengthens ÅF's offer to the oil & gas industry

Xact Consultance AS offers engineering services to the Norwegian oil & gas
industry. The services offered are focused on top-side, subsea and maintenance
of equipment used to extract oil and gas. The customers are primarily equipment
suppliers and contractors to the exploration companies and operators. About 90
employees are engaged with Xact and the company generated revenues of
approximately 85 MNOK during 2013 with good profit.

Norway is one of ÅFs prioritized markets. After the acquisition, ÅF has nearly
500 employees in Norway.

The agreed purchase price amounts to 25 MSEK, and a deferred consideration based
on future earnings.

Corporate Information

The ÅF Group is a leader in technical consulting, with expertise founded on more
than a century of experience. We offer highly qualified services and solutions
for industrial processes, infrastructure projects and the development of
products and IT systems. Today the ÅF Group has more than 7,000 employees. Our
base is in Europe, but our business and our clients are found all over the

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