Forsberg Services acquired by Norwegian software firm

Forsberg Services, which provides positioning, navigation and timing solutions for defence and civilian use, has been acquired by Teleplan Globe AS.

The Norway-based firm has purchased the parent company, Forsberg Holdings Limited, for an undisclosed sum.

Forsberg has been operating for over 35 years and from its base in Heysham serves customers in the UK and internationally. 

Chris Mayne, managing director at Forsberg Services, said: "As a team, we’re delighted to have reached a deal with Teleplan Globe AS which helps secure an exciting future for the business and its employees that aligns with our core values.

"Having worked together for a number of years, we have cultivated a close and strategic partnership with Teleplan Globe, resulting in the creation of truly innovative solutions. It is clear that the acquisition of Forsberg Services Ltd will further strengthen Teleplan Globe AS’s capabilities to benefit both existing and new customers, as well as a significant broadening of service offering for Forsberg’s existing customers."

Charles Forsberg, the founder and majority shareholder of Forsberg, will continue to support the company as an advisor. Chris Mayne will remain as the managing director and key management will stay as significant minority shareholders.

The shareholders of Forsberg Holdings Ltd were advised by Azets’ Corporate Finance (David Simmons and Nan Hao) and Azets Tax (Jenny Pape, Vicky Pickering and Amy Braithwaite). Weightmans were the legal advisors for the sellers.