Atle acquires 20% of GIGA-gruppen AB

Atle acquires 20% of GIGA-gruppen AB * Atle is acquiring 20% of IT corporation GIGA-gruppen, a transaction effected through a combined private placement and acquisition of a total of SEK 9.5 m in shares. * GIGA-gruppen, with a headcount approaching 60 and a ten-year history, is expected to generate earnings of some SEK 6 m on sales of SEK 140 m this year. * Through its subsidiary GIGA-consulting, which is partly owned by its personnel, GIGA-gruppen is a high-quality systems integration services provider, mainly in the banking and financial sector. The corporation is in a distinct growth phase in a market increasingly demanding specialist expertise. Atle has invested GIGA-gruppen, which is owned and was founded by Anne Kruge. Initially, in 1990, the enterprise was a hardware reseller. In 1995, GIGA-gruppen initiated the build-up of its consulting side, now its main activity and a leader in offering integrated expertise in project management, UNIX/Linux, Windows 2000/NT, OpenVMS, databases, storage, communication, Web technology and systems configuration. Commenting on the acquisition, Kenth-Åke Jönsson, Atle IT's Chief Executive, said: "GIGA-gruppen is in a promising developmental phase- and has succeeded in attracting very skilled professionals. This progress, combined with full utilisation in its consulting activities, a good customer base and healthy profitability, constitutes an excellent foundation for profitable growth." GIGA-gruppen's CEO, Anne Kruge, said: "in Atle, we've secured a owning partner with the same preferences regarding quality, long-termism and profitability as ourselves. Atle's experience, network and enviable reputation in entrepreneurial circles, combined with financial stability and capacity, has given us an entirely new platform in our pursuit of developing GIGA into a world-class consulting practice. Moreover, Atle has professionals that really understand the IT sector- not just people whose only IT experience comes from corporate acquisitions." Stockholm, Sweden, 12 December 2000 Atle AB publ (publ) For more information, please contact: Kenth-Åke Jönsson, Chief Executive of Atle IT, tel. +46 (0)70 587 8978. Anne Kruge, CEO of GIGA-gruppen, tel. +46 (0)70 911 6409. www.atle.se www.giga-gruppen.se Atle- key facts Atle is a growth company that intends to be 2-3 times its current size in 5 years' time. Atle is a private equity player, investing in unlisted companies, participating actively in their development, and after a few years, finding them a suitable new home- through an exit- thereby realising value growth. Since 1993, the Atle group's earnings have risen progressively, from SEK 373 m to SEK 1,025 m in 1999. Atle maintains a brisk transaction tempo, acquiring over 20 enterprises across all sectors each year. Since inception in 1992, Atle has invested in approximately 200 businesses and exited from over 100. Its annual return from these exits has been nearly 50%. 43 holdings, equal to 26% of Atle's invested capital, are in IT and other technology enterprises. Atle is quoted on the Stockholm Stock Exchange's A List and has approximately 14,000 shareholders. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/12/12/20001212BIT00190/bit0001.doc http://www.bit.se/bitonline/2000/12/12/20001212BIT00190/bit0002.pdf

Subscribe