Axis sells its shareholding in Netch Technologies AB
Axis Communications is selling its shareholding in Netch Technologies AB. This measure is part of the move to focus on core operations. "After having carried out a restructuring of its business, Netch will continue to develop together with a new principal shareholder with an internationally established business in the industry. Selling the shares in Netch is logical since possessing them is no longer of strategic importance", says the CEO of Axis, Peter Ragnarsson. Purchasing the shares is Wapplay AB, a company controlled by Torbjörn Stenkula and family. Wapplay AB is a joint owner of EDGE Mobility AB (www.edgemobility.com), a company involved in areas such as consultancy within the Internet and Mobile Internet fields. The sale of the shares, which has been calculated to have a positive effect on the Group's profit and loss account, will be reported in the Axis half-year report, which is being published on August 20, 2001.