Acando enters agreement to divest Danish operations

Acando has entered into an agreement where Q2con ApS acquires Acando’s Danish consulting operations.

The restructuring efforts executed over the last year have not had the anticipated effect, leading to continued operating losses.

Acando’s strategy is to focus on geographical markets where there are opportunities to deliver Acando’s full scope of services. In addition Acando is represented on markets where international customer assignments can be delivered.

Restructuring expenses in connection with the divestiture are estimated to SEK 7 million which will affect the third quarter result. In addition, the divestiture leads to goodwill write down of approximately SEK 12 million.

Further information will be disclosed in the quarterly reports for the second and third quarter 2011.

This is information that Acando AB may be obligated to disclose according to the Securities Market Act and/or the Financial Instruments Trading Act. This information was submitted for publication on July 7, 2011.

Further information is available from:

Carl-Magnus Månsson, President and CEO, Acando, +46 8 699 73 77

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