Press release, 2nd January 2023
Addnode Group acquires FAST2 Affärssystem, which becomes part of SWG
Addnode Group announces that it today has acquired FAST2 Affärssystem AB (FAST2), one of Sweden’s leading suppliers of business systems for real estate companies. The company is expected to have net sales of approximately SEK 80 million ($7.65m USD).
FAST2’s proprietary business system is used by nine out of 13 of the largest public housing companies in Sweden. The system handles both technical and financial management. FAST2 was formed in 1996, four of the founders are still active in the company and offices are currently located in Stockholm and Gothenburg.
“We are experiencing an increased demand for digitisation and lifecycle management of the built environment. The acquisition of FAST2 strengthens and broadens our offering. With the increased competence within our new joint organisation, we will have even greater capacity to support our customers with smart digital solutions for sustainable communities. We see strong opportunities to develop our relationships with existing clients, as well as reach new customers, together with FAST2”, says Gary Watkins, CEO of Service Works Global.
FAST2 will be consolidated starting from January 2, 2023, as part of Service Works Global, within Addnode Group’s Design Management Division.
About Addnode Group
Addnode Group acquires, operates and develops entrepreneur-driven companies that provide software and digital services to markets in which the group have or can achieve a leading position. We are a leading global supplier of software and services for design, construction and product data information, and a leading supplier of document and case management systems to public sector clients in Sweden.
We have 2,300 employees in Sweden, UK, Germany, Australia, Austria, Canada, Denmark, Finland, France, India, Ireland, Japan, Lithuania, Netherlands, Norway, Poland, Serbia, Slovakia, and USA. Net sales in 2021 amounted to SEK 4.1 billion. Addnode Group’s Series B share is listed on Nasdaq Stockholm. For more information, please visit: www.addnodegroup.com
About Service Works Global
Service Works Global (SWG) is a leading international provider of facilities, property and workplace management software with offices in the UK, Sweden, Canada, Australia, and the Middle East. SWG is a wholly owned subsidiary of Addnode Group, listed on Nasdaq Stockholm.
Established in 1994, SWG is a Microsoft Gold Partner, certified with ISO 9001 for quality management and ISO 27001 for information security management, and has a wealth of expertise in computer-aided facilities management (CAFM), public-private partnership (PPP), and building information modelling (BIM) software.
For more information, visit www.swg.com.