WATERTOWN, MA BUSINESS WIRE December 28, 2000 Primix Solutions, a strategic Internet services firm, is looking across the Atlantic for new business opportunities, specifically Scandinavia. In a strategic move towards this expansion, Primix recently acquired the Danish e-business solutions company, 21st.dk, based in Copenhagen, Denmark. The announcement comes only weeks after Primix acquired the Danish Primant AB, and re-branded itself as Primix Sweden.
Primix obtains sole ownership of 21st.dk through the purchase of all shares in the Danish company. The primary consideration for the transaction is 1,054,000 shares of Primix common stock and $235,000 in cash. There is the potential for an additional 321,000 shares of stock to be issued, depending upon the future performance of the company. Primix will account for the transaction as a purchase.
The acquisition of 21st.dk will further our strategy of becoming the leading e-business solutions firm in the Oresund region of Scandinavia, a land mass on both sides of the strait between Denmark and Sweden widely recognized as a rapidly developing European technology center, said Lennart Mengwall, chairman and co-CEO of Primix. This is a natural progression from the solid progress we've made with our Primant AB acquisition. Since May, our business in Scandinavia has grown 35 percent to 85 people, while migrating more client engagements to higher value-added strategic Internet services.
21st.dk will take control of the Copenhagen operation of Primix Sweden, bringing 42 employees to Primix in Scandinavia including technical, design and strategic consulting specialists. Customers of Primix Sweden include Ericsson Mobile, Gambro, IKEA, Pergo, SAS and TetraPak.