Triton makes 3.9 bln crown bid for Swedish IT consultant HiQ

Corrects day of closing price to Tuesday from Monday in first paragraph

STOCKHOLM, Aug 26 (Reuters) - Private equity firm Triton on Wednesday announced a 3.9 billion crown ($444.92 million) cash bid for IT consultancy firm HiQ International, a 25% premium to the company's closing price on Tuesday.

Triton said the bid of 70 crowns per share was conditional on reaching an acceptance level of at least 70%.

"HiQ has the opportunity to develop into a Northern European leader by building on its unique well as its industry leading innovation, industrial and technology expertise," Triton's Head of Nordics Thomas Hofvenstam said in a statement.

"This would, however, require significant, long-term investments over several years."

($1 = 8.7656 Swedish crowns)

(Reporting by Johannes Hellstrom; Editing by Jacqeline Wong)

((; +46850242388; Reuters Messaging:

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.