HiQ is acquiring Frends Technology, a specialised IT consulting firm in Helsinki, Finland. The company, which employees nearly 40 people, specialises in business process integration. Its clients include leading companies in the utilities sector, retail and manufacturing industry.

” Frends Technology is a perfect match for our existing operations, complements HiQ with a new offering to all of our clients. In addition, Frends gives HiQ a broadend client base within the utilities sector, retail and manufacturing industry. Through this acquisition we are strengthening our position in Finland even more,” says HiQ President and CEO Lars Stugemo. Frends Technology occupies a unique position in its niche areas, with a complete offering that covers the entire process, from strategy, methodology and management to execution. In 2010, Frends was awarded Country Partner of the Year by Microsoft.

“We are looking forward to growing our business together with HiQ, a company with a very strong brand and the best reputation in the Nordic consulting industry. HiQ's strong position in the Nordic region offers many opportunities to make new deals and expand our offering. We are currently a strong player in Finland, and look forward to an exciting future with HiQ, one that offers many new opportunities and exciting development in the Finnish and Nordic markets,” says Aino-Maija Fagerlund CEO of Frends Technology.

”The acquisition brings HiQ up to more than 200 people in Finland. I am looking forward to continuing to expand our Finnish offering to both new and existing clients,” adds Stugemo.

For additional information, please contact:
Lars Stugemo, President and CEO, HiQ International, tel.: +46 (0)8-588 90 000

Fredrik Malm, CFO and Head of Investor Relations, +46 (0)704-200 017,

Aino-Maija Fagerlund, CEO Frends Technology, +358 40 542 57 31,