The European Commission approves investment in Q-Labs
The European Commission said today it had approved Ratos investment in Q-Labs. After a new share issue of SEK 190m Ratos will hold 40 per cent of Q-Labs. Other owners are Swedish Ericsson and Norwegian Det Norske Veritas.
Q-Labs' core business is to manage software risks at companies with a large or critical software dependency. Some of the major clients are international corporations, such as Ericsson, ABB and Robert Bosch. Today, the company has a strong position in Europe, and a break-in has started on the U.S. market.
Software represents a growing part of development costs in several industries. Software systems supporting new products, as well as manufacturing processes are becoming increasingly complex, which increases the need for systematical risk management of software and system engineering. The global market for software engineering services is today estimated to more than USD 800 million (SEK 7.6 billion), and is expected to grow with 30 per cent annually in the years to come.
"Through this investment, Ratos intends to contribute to Q-Labs' further expansion, which is likely to involve both organic growth and future acquisitions" says Mr. Bo Jungner, Senior Investment Manager at Ratos.
For further information;
Anna-Karin Celsing, Head of Corporate Communications, Ratos
+46 8 700 17 49