Swisscom acquires majority stake in Innovative Web Group
Swisscom is expanding its business in the areas of web solutions and e-government solutions. To this end, the «Blue Giant» is acquiring a majority stake in the Zurich-based Innovative Web Group, which operates in these sectors, according to a press release issued on Wednesday. Swisscom did not provide any further details regarding the financial terms of the acquisition.
Innovative Web was founded in 2000 and employs around 50 people. According to the company, its customers include medium-sized and large Swiss municipalities and cities, cantons, factories, schools and other administration-related organizations. For them, the company creates, among other things, the web presences, e-government solutions with citizen accounts or the electronic exchange with schools.
With this acquisition, Swisscom is strengthening its "Municipalities and Associations" business area, which is handled by its subsidiary Swisscom Directories with its "Localcities" product, it says. In association with Innovative Web, Swisscom will in future develop new digital solutions to cover almost all needs for the approximately 2200 municipalities.
On a legal basis, the Innovative Web Group will remain independent, meaning that there will be no changes for either customers or employees as a result of the acquisition, the statement added. CEO Steff Desan-Schnetzler will remain, while Stefano Santinelli, head of Swisscom Directories, will take over as Chairman of the Board of Directors. (SDA)
