Construction software provider Eleco plc is to buy the Swedish Consultec Group AB for £3.8m.
The deal follows the signing of a £1m licensing deal last summer to market Consultec’s timber design and engineering software in the UK, including an option for Eleco to buy the group.
The agreement, made up of £2.38m cash and £1.4m worth of Eleco shares, is dependent on approval by Eleco shareholders at an extraordinary general meeting.
Consultec supplies design, estimating, on-site management and timber engineering software across Scandinavia, with more than 1,000 customers in the Swedish construction market.
Its Staircon stair design and production program has already been installed by manufacturers accounting for more than 60% of wood stair production in Sweden. It also has a glulam program, developed in conjunction with the Nordic Wood Project, an initiative by the governments of Sweden, Norway and Finland.
Eleco is translating Consultec software into English for marketing in the UK and North America.
