Damovo

From Wikipedia, the free encyclopedia

Please help improve this article or section by expanding it.
Further information might be found on the talk page or at requests for expansion. (February 2008)

Damovo Group

Type	Private company
Founded	2001
Headquarters	Glasgow, UK
Key people	Mike Parton, Chief Executive
Industry	Telecommunications
Revenue	undisclosed
Net income	undisclosed
Employees	1150
Website	http://www.damovo.com

Damovo Group headquartered in Glasgow, UK, formerly the direct-sales division of Ericsson, is a telecommunications services company currently with 9 country divisions. Its specializes in professional services.

Damovo has been implicated by Brazilian authorities in evasion of $830m import duty by Cisco Systems in Brazil^[1]. Brazilian authorities are also currently investigating political donations made by Damovo Brazil^[2]

In 2006 and 2007, the loss of many major clients, notably in the UK, along with non-payment by the Italian National Police sparked a credit crunch for Damovo. With their investment reduced to junk status, bondholders took control of the company with former majority stakeholder Apax absorbing losses of over $100m^[3]^[4]

In 2004, Damovo was forced to sell its Australia operations back to Telia for significantly less than they had paid for it a few years earlier.

March 2008 saw the launch of 360 Services, a joint venture between Damovo Group and Nimsoft.^[5]