Sweden's Framfab "biggest in UK" after Oyster purchase
The Local Sweden - [email protected]
Published: 10 May, 2005 CET.
Updated: Tue 10 May 2005 16:10 CET
Framfab, the Swedish digital agency, has acquired the UK's Oyster Partners to create what it says is "the largest interactive business in the UK".
The Swedish company paid £12 million in cash and shares with more to come based on performance over the next two years.
In a press release, Framfab said that it expects the acquisition to increase sales by up to 40% this year, given that Oyster brought in revenues of £10.2 million in 2004.
Oyster's 119 staff are expected to keep their jobs, taking the overall headcount to more than 460. 200 of those are based in the UK.
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The Swedish company paid £12 million in cash and shares with more to come based on performance over the next two years.
In a press release, Framfab said that it expects the acquisition to increase sales by up to 40% this year, given that Oyster brought in revenues of £10.2 million in 2004.
Oyster's 119 staff are expected to keep their jobs, taking the overall headcount to more than 460. 200 of those are based in the UK.
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