Atle new main owner of an independent Dotcom Solutions

Atle new main owner of an independent Dotcom Solutions TietoEnator is reducing its ownership holding to 48% of formerly wholly owned subsidiary Dotcom. Atle, the corporation's new owner, will acquire 48%, alongside Dotcom's corporate management and Board, who will acquire an aggregate 4%. The additional intention is to offer all employees an equity-related incentive programme. With an employee headcount of 600 at 35 locations in Sweden, plus sales of SEK 1 bn, Dotcom Solutions AB is Sweden's leading systems integrator and communications solutions provider. Dotcom offers solutions, services and products in spheres such as LAN, WAN, Internetworking, telephony, CTI, call centres, security and IP telephony- in other words, comprehensive communication platforms for voice, data, image and network services. Dotcom has been constructing broadband solutions since the early 1990s, including some 70 urban networks. Atle is a private equity corporation that invests in unlisted companies, participating actively in their development, and after a few years, finding them a suitable new home thereby realising value growth. The investment in Dotcom is fully consistent with Atle's acquisition strategy. Kenth-Åke Jönsson, Atle's Chief Executive and Dotcom's forthcoming Chairman, commented by saying that "Dotcom definitely harbours very strong potential for positive performance. This corporation enjoys a very secure market position, prominent products and services, while its professionals have a high skills level. Our objective is to make Dotcom ready for the stock market within three years." As for TietoEnator, this divestment represents an element of its operational concentration process. TietoEnator's strategy is to focus on sectors where it has, or can secure, market leadership in a Northern European perspective- within banking and finance, telecom, the forest products industry and the public sector. TietoEnator intends to become a secure partner for its clients through proprietary services and applications, plus knowledge of clients and sectors. TietoEnator's Deputy Chief Executive Åke Plyhm said: "Dotcom's sector- independent operations do not form part of TietoEnator's strategic core activities, and accordingly, we have previously indicated our intention to reduce our ownership 2(2) of this enterprise significantly. We are convinced that the new ownership structure will contribute to positive progress for Dotcom, and are pleased that the we have secured this solution." TietoEnator and Dotcom will continue to collaborate in future, as is clearly evident in TietoEnator's sizeable retained holding. Dotcom's Chief Executive Kjell Westerback noted that "We are going to concentrate on further consolidating our position as a market-leading systems integrator in the communications sphere. Developing the corporation from our core competencies will be exceptionally exciting with our independent status." The planned new ownership structure is dependent on approval from Sweden's competition regulators. The divestment of the majority holding is based on a fixed element upon take-over, calculated on a company valuation of SEK 140 m, plus a potential supplementary fee based on Dotcom's performance in 2001, although for Atle, this is subject to a maximum of SEK 77 m. Coincident with the transaction, the corporation's shareholders' equity amounts to SEK 80 m. The divestment is not expected to influence TietoEnator's or Atle's full- year earnings for 2000. Stockholm, 11 December 2000 Atle AB (publ) For further information, please contact: Åke Plyhm, Deputy Chief Executive, TietoEnator, + 46 (0)8 632 1410 Eric Österberg, VP Corporate Communications, TietoEnator, + 46 (0)70 590 0599 Kenth-Åke Jönsson, Chief Executive of Atle IT, + 46 (0)70 587 8978 Kjell Westerback, Chief Executive, Dotcom Solutions, + 46 (0)70 583 2768 Atle- key facts Atle is a private equity player quoted on the Stockholm Stock Exchange's A List and has approximately 17,000 shareholders. Atle invests in unlisted companies, participating actively in their development, and after a few years, finding them a suitable new home 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 acquires 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%. TietoEnator- key facts TietoEnator is a leading provider of value-added IT services in Europe with a total headcount of more than 10,000 and sales of EUR 1.2 bn. TietoEnator offer management consulting, systems development, integration, operations and support, communications solutions, software and product development. TietoEnator have in-depth knowledge of their clients' operations in sectors including banking and finance, the forest products industry, the public sector and telecom. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/12/11/20001211BIT00270/bit0001.doc http://www.bit.se/bitonline/2000/12/11/20001211BIT00270/bit0002.pdf