The Swedish-based software company Universal Avenue has acquired Swedish-based Varvet to boost Universal Avenue’s technical platform. The deal value is undisclosed. Along the acquisition, Universal Avenue also raises USD 6m from their investor MOOR Capital. Universal Avenue provides digital solutions for SMEs, has approx. 40 FTEs and reported a turnover of SEK 21.5m and EBITDA of SEK -46m in 2017.
