Acando sells all shares in the Webmedia Group

Acando AB and AS WMG, “Webmedia Group”, have agreed that WMG shall purchase all shares that Acando holds in WMG and that Acando shall purchase all shares that WMG holds in Acando Denmark AS.

Acando and Webmedia have had an excellent business relationship for a period of two years. The two companies intend to continue this good collaboration and further-develop business within near-shoring.

- Acando perceives Webmedia as a high-quality partner and we currently have several important joint commitments. These will continue to be pursued in the same way as previously, says Lars Wollung, CEO of Acando AB.

However, Acando and other shareholders in Webmedia have different viewpoints with regard to future strategy for Webmedia and how the company should be further-developed. The parties have therefore agreed to terminate the shareholding connection and focus on aspects that function well, i.e. the operative business cooperation.

Acando continues to believe in near/off-shore solutions, but would also like to be open to alternatives in other parts of the world, such as India and Sri Lanka.

Acando AB and AS WMG have subsequently agreed on the following transactions:

• Acando shall sell to WMG all of its shares in WMG for an amount of approximately SEK 38 million. This will imply a realisation gain of approximately SEK 13 million, an increase of about 54 percent in the value of the share block during the period of ownership.
• WMG shall sell to Acando all shares that it holds in the Danish company Acando Denmark AS, representing 49 percent of shares and voting rights, for an amount of approximately EUR 380,000. Further to the transaction, Acando AB will hold 100 percent of the shares in the Danish subsidiary, which has 15 employees.

The transactions will be carried out on 31 January 2008, implying that Acando will cease to consolidate Webmedia as of 1 February 2008. Webmedia had a turnover of SEK 63.3 million and a net result of SEK 1.6 million for the period January – September 2007. The effect on the Acando group profit pertaining to the Parent Company's shareholders (profit after tax and minority interests) was approximately SEK 0.4 million for the period January – September 2007, representing 0.5 percent of the equivalent results for the Acando group. The effect on earnings per share after dilution was SEK 0.005.

Price-sensitive information that is reported to the Swedish Financial Supervisory Authority