Cegal Group AS has signed an agreement to acquire Avito Consulting AS, enhancing its IT consultancy capabilities in the energy sector.
Information on the Target
Cegal Group AS (“Cegal” or the “Company”), a majority-owned subsidiary of Norvestor V, L.P., has entered into an agreement to acquire Avito Consulting AS (“Avito Consulting”). Avito Consulting, a subsidiary of the Avito AS Group, specializes in delivering strategic consultancy services with a strong emphasis on enhancing project execution. The primary focus of Avito Consulting lies in providing IT-related consultancy services tailored specifically for the energy sector.
With this acquisition, Cegal aims to leverage Avito Consulting's expertise and capabilities to strengthen its position in the energy consulting market. Cegal plans to seamlessly integrate all employees from Avito Consulting into its organization, ensuring continuity and a smooth transition for both workforces.
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Industry Overview in Norway
The energy sector in Norway plays a pivotal role in the country's economy, largely driven by oil and gas production. Norway is a leading supplier of energy to Europe, balancing a mix of traditional fos
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