Eqvitec sells Frends Technology

Eqvitec has sold its stake in Frends Technology Oy to HiQ, a Nordic consulting company, for тЌ3.5m.

Eqvitec owned the company through its Eqvitec Technology Fund I. Frends is an IT consulting firm specialising in business process integration.

In 2009 the company generated net sales of approximately €3.3m. It employs approximately 40 people.

The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.

If you have any information regarding this transaction, please contact Viktor Lundvall on +44 20 7004 7476 or viktor.lundvall@incisivemedia.com

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