STOCKHOLM, SWEDEN: MilDef Group has acquired Defcon Solutions AB. The initial purchase price is SEK 160 million on a cash and debt free basis.
During the years 2021-2023, upto SEK 40 million in contingent payments are conditioned on agreed financial targets. Defcon is expected to generate SEK 140 million in revenue during 2021.
MilDef was founded in 1997 in Helsingborg, Sweden. The company delivers tactical IT, including rugged hardware, software, and services.
MilDef’s products are sold to more than 160 customers through MilDef’s subsidiaries in Sweden, Norway, United Kingdom, the United States, and through partner networks in more than 30 countries, predominantly within the EU. MilDef Group is listed on Nasdaq Stockholm.