Cybercom divests Chinese operations and to focus on Nordic market

Tuesday, 05 June 2012
IT consultant Cybercom has signed an agreement with Wicresoft to divest the Chinese operations, signalling that though china might be the second biggest economy where every one wants to get a slice of the market there, it is not open for all.

The company in a press release say that it wants to focus on its core market in the Scandinavia: “In line with our strategy to intensify focus on our major businesses in the Nordics and streamline our client proposition, Cybercom is now leaving China. Through this we are initiating the optimisation of our international structure,” says President and CEO Niklas Flyborg in a press release and adds that “Our clients will continue to benefit from offshore deliveries, but going forward we will focus on our successful Indian operations.”

Cybercom’s business in China, with about 100 employees, has long been unprofitable. The purchase price is negative, i.e. in the agreement between Cybercom and Wicresoft, Cybercom undertakes to pay SEK1.3 million in connection with the divestment.
By Scancomark.se Team

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