2008-01-23
Cordovan Group, a rapidly growing management and consulting firm, has made an additional acquisition through its purchase of Celsius International, which is based in France’s ‘Silicon Valley’ at Sophia Antipolis, near Nice. Celsius, which speciali¬zes in advanced international market analysis and digital marketing, will be a key component of the Cordovan Group's planned expansion in Europe.
Celsius' online tools for analysis and digital marketing mean that the company is on the cutting edge of technology. Its customers include giants such as Microsoft, Symantec and Dell as well as Continental, Europe’s second largest auto component manufacturer, which all collaborate with Celsius on a pan-European or global basis.
"We view Celsius' professional skills within advanced market analysis and online marketing as comprising remarkable strength for our continued expansion in Europe," says Magnus Penker, CEO of the Cordovan Group. "What's more, Celsius' offerings are a natural complement to the Cordovan Group's current business operations, which means that we expect the acquisition to also generate more business and bigger transactions from our existing customers."
In conjunction with the acquisition, Cordovan Group's sales will be boosted by some SEK 30 million and the company subsequently expects, on a pro forma basis and excluding future acquisitions, sales to reach approximately SEK 200 million this year.
Celsius International has a staff of 20 people, including nationals of France, the UK, the USA, Netherlands, Germany, Spain and Belgium. The company works with an extensive international network with quality-assured local partners.
In connection with the acquisition of Celsius International, company founder Thomas Hübner will be in charge of Cordovan Group's sales in Europe. In tandem with Mats Erasmie, who is in charge of the Group's sales development in Sweden, his role will involve efforts to maximize synergies both internally and for our customers. Tom Richardson, the Managing Director of Celsius International, is continuing his work to expand and develop Celsius' existing operations.
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