Novestra increases its ownership to 25% in Qbranch AB which shows record sales and record result during the first half y

NOVESTRA INCREASES ITS OWNERSHIP TO 25% IN QBRANCH AB WHICH SHOWS RECORD SALES AND RECORD RESULT DURING THE FIRST HALF YEAR OF 2001 AB Novestra increases its ownership in Qbranch AB by acquiring a further 10% in Qbranch AB, which is Sweden's leading System Management company and one of Sweden's fastest growing company. During the first half of 2001, Qbranch expects sales of MSEK 90 with a net income of approximately MSEK 20. This is equivalent to an increase in sales and result of approximately 150% compared to the same period last year. For Novestra, the increased ownership in Qbranch is a further step towards a larger industrial focus within network technology and network services. Novestra is planning to present further strategic deals during the next few months. "Qbranch is a glowing star in the Swedish IT heaven and the reason for their success is that the focus has been on creating increased value for their customers by offering them safe system and network operations. Another factor for the success is the employees and management belief that it is only hard work that gives the edge over competitors and by referring to their operations as 'the digital salt-mine'," says Novestra's President, Mr Thomas Åkerman. "We are glad that Novestra is now a strategic owner and can assist in the continued growth strategy. We believe that Qbranch has promising possibilities to both grow and develop for many years to come if we focus on delivering services which will help our customers to secure their system operations and thereby increasing their productivity,"says Qbranch's Managing Director, Mr Ulf Engerby. About Qbranch AB Qbranch, which is Sweden's leading IT consultant within System Management, offers a broad supply of services in relation to operations and security. Through its subsidiary, Qbranch 365/24, they also provide hosting and surveillance services. At present, Qbranch has 240 employees and have offices in Stockholm and Malmö. The business concept is to assist companies in becoming more profitable through secure operations. For more information regarding Qbranch AB, please see www.qbranch.se About AB Novestra AB Novestra is one of the leading independent venture capital investment companies in the Nordic region with focus on companies providing enabling services and technologies for the communications industry. Novestra's portfolio of companies includes B2 Bredband AB, Comintell Holding AB, Continuum Group Ltd, Iquity Systems Inc, Multilet AB, Netsurvey AB, PowerNet AB, Qbranch AB and Strax Holding Inc. Novestra's shares are listed on the O-List of Stockholmsborsen. For information regarding AB Novestra, please see www.novestra.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.bit.se/bitonline/2001/06/21/20010621BIT00440/bit0001.doc http://www.bit.se/bitonline/2001/06/21/20010621BIT00440/bit0001.pdf

About Us

Novestra is an independent investment company with a portfolio of small cap private as well as public companies. Novestra focuses on investing in companies with substantial growth or value potential.

Subscribe