Stockholm, 10 February 2022 – Björn Lundén, a leading Swedish accounting and financial administration software provider, is partnering with QLogic AB (“QLogic”).
QLogic is active in the time, project and expense management space and is known for its cloud-based solution QBIS and IT support. This acquisition was backed by leading European software-investor Main Capital Partners (“Main”). The financial details were not disclosed.
The acquisition of QLogic represents a strategic second add-on acquisition for the Björn Lundén group since Main became a majority investor in July 2021. In November 2021, Björn Lundén enhanced its value proposition with the acquisition of TimeKeeper, which operates in the same field as QLogic. Both brands will continue to function under the Björn Lundén umbrella, which currently has approximately 140 employees.
QLogic’s flagship offering QBIS enables companies to gain vital insights, in order to optimise processes and resources and increase overall efficiency within an organisation. The QBIS system has been developed to be internationally scalable and is currently available in Swedish, Danish and English, with more languages to follow. QLogic currently services over 900 companies ranging from SMEs to blue-chip corporations across the Nordics and in the UK.
Growing importance of time tracking software
Companies today are facing an increasing pressure to be more efficient and increase productivity levels. Expense management software enables companies to centralise their expense-related data and achieve higher cost control. In tandem, time and project management software enables companies to gain a better understanding of direct employee productivity. The market for time tracking software is predicted to grow by 22.4% per year to 2026.
QLogic’s product portfolio is highly complementary to Björn Lundén’s current offering of accounting and financial administration solutions. Ulf Svensson, CEO Björn Lundén, commented:
“By joining forces with QLogic, we further strengthen the position of the Björn Lundén group in the Nordics as well as improving our international growth prospects. Through this acquisition we are able to improve our service offering and increase our value for existing and new customers to the Björn Lundén group.”
QLogic and QBIS brands to continue
Andrew Johnston, co-founder of QLogic and QBIS Business Unit and Product Manager added: “This is a great opportunity for all parties and I view it as the start of the next chapter in our journey to further develop the company. We are extremely happy that the QLogic and QBIS brands will remain and continue as a valued part of the Björn Lundén product family. The customers of QLogic will benefit from an even stronger integration and combined product offering whilst having the flexibility to continue using their current payroll and accounting system of choice.”
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