CDON Successfully Completes Platform Migration
CDON is pleased to announce the successful completion of its platform migration across all markets. The shared platform will enable more efficient development and enable a best-in-class shopping experience. It is also an important step to reach the 40 mSEK run-rate saving in 2025.
As planned, the migration, which was announced as part of the integration following the acquisition of Fyndiq, transitions CDON frontend and majority of its backend from its legacy platform to a shared state-of-the-art platform.
"We are extremely pleased to announce the successful completion of our platform migration," said Fredrik Norberg, CEO of CDON. "This has been a complex undertaking, but our team has executed flawlessly to meet the deadline we set more than one year ago. We are excited about the opportunities this new platform will create for our customers, merchants, and shareholders."
The new platform provides CDON with a more flexible and scalable foundation to support its future growth. It also enables CDON to introduce new features and functions more quickly and efficiently across both of its marketplaces.
Atra Azami, CTO of CDON, added, "Migrating a platform of this scale while maintaining business continuity is a significant technical challenge. Our team's expertise and dedication have ensured a smooth transition. The new platform positions us to deliver a superior e-commerce experience and leverage the latest technologies to drive innovation."
CDON is confident that the new platform will enable it to deliver a best-in-class shopping experience to its customers in the Nordic region. "A lot of work remains, but the platform migration is a major step on this journey. We look forward to further improving the shopping experience", Fredrik Norberg added.
As previously disclosed, the successful platform migration is considered a vital step to reach the 40 mSEK run-rate saving in 2025 vs the combined cost base at the time of the acquisition of Fyndiq.
For further information, please contact:
Fredrik Norberg
CEO
E-mail: [email protected]
Carl Andersson
CFO
E-mail: [email protected]
Certified Adviser
FNCA Sweden AB is the company's Certified Adviser.
About CDON and Fyndiq
CDON AB (publ) ("CDON") was founded in 1999 and is now the biggest marketplace in the Nordic region. Customers can choose to buy and compare prices for millions of products at CDON, by far the widest range of all Nordic e-retailers. Over 1,500 merchants use CDON's platform and technology to increase their sales. This gives CDON a wide range of products within, movie, music, computers, games, office supplies, books, toys, consumer electronics, household appliances, sport, outdoor, beauty care, fashion, shoes, computers, and computer products. CDON's shares are listed on Nasdaq First North Growth Market with the abbreviation CDON.
Fyndiq AB ("Fyndiq") is since April 2023 a wholly owned subsidiary of CDON. Fyndiq was launched in 2010 and is operating a marketplace which offers a wide range of bargain products from Swedish and international merchants. Fyndiq has built an effective technical platform that allows merchants to easily get access to a large customer group while Fyndiq takes care of marketing, customer support and payments. Fyndiq's main market is Sweden and it also operates sites in Finland, Norway and Denmark. Fyndiq is headquartered in Stockholm.
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