Prog-IT Sthlm Tech Ab
Prog-It expanded its presence in Sweden by acquiring Sthlm Tech AB – Neuvoa as buy-side advisor
Prog-It, a provider of comprehensive IT solutions, has acquired the Swedish consulting company Sthlm Tech AB. Neuvoa Advisors acted as Prog-It’s advisor in the transaction. Sthlm Tech AB was founded in 2013, and it specializes in customized application development services tailored to client needs. The company also supports and leads development at several of Sweden’s leading technology firms.
The acquisition strengthened Prog-It’s position in Swedish application consulting and significantly broadened its product and service portfolio, supporting the company’s growth strategy in both Finland and Sweden.
Sthlm Tech AB continued to operate as an independent unit, retaining its organizational structure and brand. The acquisition also supports Sthlm Tech’s future development with the additional resources at its disposal.
Prog-It’s CEO, Topi Järvenpää, viewed the acquisition as an important step in the company’s growth:
“This acquisition is a significant step in Prog-It’s growth story and supports our ambition to provide customer-oriented and comprehensive solutions while developing joint service offerings that serve a broader market.”
Additional information about the acquisition: