Lemminkäinen sells remaining stake in Lemcon Networks to Cygate Oy

Helsinki, Finland, 24-6-2014 — /EuropaWire/ — Lemminkäinen and Cygate Oy, part of TeliaSonera Group, have signed a business purchase agreement covering Lemcon Networks’ IT services in Finland, including WLAN, corporate networks and network data security solutions. In connection with the transaction, five permanent and one fixed-term employee will join Cygate. The parties have agreed not to disclose the purchase price.

In accordance with its strategy in 2013, Lemminkäinen began the divestment of Lemcon Networks, which is not part of its core business. The operation sold now was the last part of Lemcon Networks owned by Lemminkäinen.

In the future, Lemminkäinen will focus on infrastructure construction and building construction in Northern Europe.

Cygate is a leading Nordic provider of network and data centre services and an expert in data security. Cygate’s 2013 net sales in Finland amounted to approximately EUR 62 million and the company had 180 employees.

Lemminkäinen has previously announced Lemcon Networks’ divestments on 30 January 2013, 30 April 2013, 4 April 2014 and 10 April 2014.

LEMMINKÄINEN CORPORATION
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Together with our customers we create conditions that make living, working and travelling functional, safe and healthy. We operate in northern Europe and employ about 5,700 professionals. In 2013, our net sales were about EUR 2.0 billion. Lemminkäinen Corporation’s share is quoted on NASDAQ OMX Nordic Exchange Helsinki. www.lemminkainen.com