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Google buys Swedish IT company

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10:32 CEST+02:00
American giant Google has bought Luleå-based IT company Marratech for over 100 million kronor ($14.5 million).

The deal also means that Google will assume responsibility for Marratech's dozen or so employees.

"It feels great. It's a wonderful opportunity for us. We couldn't have dreamed of getting a better partner," Peter Parnes, one of the founders of Marratech, told news agency TT.

Marratech, founded in 1998, makes software for electronic conferences.

The price tag has not been revealed but newspaper Dagens Industri reports that Google paid more than 100 million kronor for the northern Swedish company.

Until Friday Marratech was owned by the Sixth AP Fund and northern Swedish risk capital company Emano.

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