case | 06 Apr 2021

Setterwalls has advised the founders and the other shareholders with the divestment of Cygni

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The founders and other shareholders of Cygni have agreed on a divestment of all shares in Cygni to Accenture. Cygni was founded in 2006 and through the transaction, following a successful journey with established headquarters in Stockholm and offices in, amongst other, Göteborg, Linköping, Malmö, Luleå, Östersund and Amsterdam, Cygni takes its next step becoming a part of Accenture.

Since its foundation in 2006, Cygni has successfully become a software development and full stack development company with market leading competence within full stack development and cloud services. Meanwhile, Cygni has been awarded best workplace in Europe five times and best workplace in Sweden seven times by “The Great Place To Work Foundation”. Through the acquisition, Accenture’s offering within cloud based services is strengthened and by combining forces with Accenture for the purpose of continued growth as a part of “Accenture Cloud First”, the next chapter for Cygni is initiated.

The completion of the acquisition is conditional upon approval from the Swedish Competition Authority, which is expected to be granted during the second quarter of 2021.

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