Atle buys 27% of high-growth Norwegian IT servicing player InfoCare

Atle buys 27% of high-growth Norwegian IT servicing player InfoCare * Atle has signed an agreement to acquire 27% of the shares in InfoCare ASA- a provider of servicing and delivery logistics to the IT and telecom industries. * InfoCare, with a secure market position in Norway, and annual growth exceeding 30%, is now embarking on a pan-Nordic expansion strategy encompassing organic growth and acquisitions. The objective is to at least double sales within a two-year period. Looking further ahead, the goal is a stock market flotation. * InfoCare, with a headcount of some 360, achieved sales of NOK 238 m in 1999, achieving earnings before tax exceeding NOK 13 m. * The acquisition will be effected through a NOK 45 m private placement in InfoCare ASA, with a stock acquisition of NOK 5 m-plus. The transaction is dependent on approval by InfoCare's shareholders' meeting. InfoCare, until the present owned by its management and some 100 shareholders, develops and supplies field service and spare parts logistics for IT and telecom industry equipment. InfoCare's Norwegian field service corps extends to 280 professionals that provide equipment installation, configuration, servicing and repair. Major clients include ICL, IBM, NCR, Compaq, Cisco, Siemens, Ericsson, HP and several other prominent telecom and IT players. For several years, operations have been in brisk, profitable growth- the company enjoys a very secure position on the Norwegian market. Now, with Atle's assistance, InfoCare will embark on a pan-Nordic, and northern European, growth strategy. The overall market is growing by 12- 15% annually, while significant opportunities for still faster growth are possible through successful corporate acquisitions, the result of a fragmented sector structure and a market where increasingly, the heavyweight IT and telecom players are outsourcing this type of service. Commenting on the transaction, Gustav Bard, Atle Mergers & Acquisitions' Chief Executive said: "in the IT and telecom industry, there is an acute need for the highly cost-efficient and competitive services concept InfoCare is offering." ATLE AB (Publ) P.O. BOX 7308 S-103 90 STOCKHOLM SWEDEN VISITING ADDRESS: REGERINGSGATAN 48 TELEPHONE +46 (0)8 506 10100 TELEFAX +46 (0)8 506 10110 CORPORATE IDENTITY NO.: 556454-8799 "The combination of a skilled management and organisational resources, a tried-and-tested concept, bright growth prospects in the Nordic region and northern Europe, plus a pronounced growth culture within this enterprise mean we take an upbeat view of InfoCare's ongoing development and expansion." In response, Helge B. Risnes, InfoCare ASA's Chief Executive, said: "Atle's entry gives us a partner with an extensive contact network, rigorous corporate development and acquisition expertise, plus the financial clout that will allow InfoCare's Nordic growth strategy to take a big step up in tempo. Our long-term ambition is to refine a profitable and sustainable servicing concept, where in partnership with customers, we provide services that allow them to sharpen their focus on core business yet further. InfoCare has substantial growth opportunities both inside and outside Norway." Stockholm, 12 May 2000 Atle AB (publ) For more information, please contact: Gustav Bard, Chief Executive, Atle Mergers & Acquisitions, tel +46 (0)70 511 6427 Helge B. Risnes, Chief Executive, InfoCare ASA, tel +47 918 98000 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 high 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 exceeded 50%. 43 of its holdings (26% of invested capital) are in IT and other technology enterprises. Atle is quoted on the Stockholm Stock Exchange's A-list and has approximately 16,000 shareholders. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/05/12/20000511BIT00940/bit0001.doc http://www.bit.se/bitonline/2000/05/12/20000511BIT00940/bit0002.pdf