Bure forms leading Nordic network company

Bure forms leading Nordic network company - Santa Monica Software Finland Oy and Salcom AB in Sweden merge Investment AB Bure has acquired 40 per cent of the shares in Santa Monica Software Finland Oy and at the same time receives an option to acquire an additional 20 per cent during 1999. Santa Monica Software Finland Oy develops and builds advanced networks for industry and commerce, and the public sector. Together with Salcom AB, which is already owned by Bure, Santa Monica Software Finland Oy will become a leading network supplier in the Nordic countries with annual sales of approximately SEK 800M. The operations will be co-ordinated during 1999. Santa Monica Software Finland Oy and Salcom AB are both leading companies in their respective markets. Together with products from leading suppliers such as Cisco and Ascend they offer extensive technology knowledge in networks. Salcom AB operates in security, surveillance and integration of networks and systems and together with Santa Monica Software Finland Oy will become a leading Nordic player in the sector. The acquisition is in line with Bure's consistent investment in the knowledge-intensive and service-intensive segment of the IT sector in the Nordic countries. "When we acquired Salcom AB, our objective was to develop the company to become the leading supplier of advanced network solutions in the Nordic countries," says Björn Boldt-Christmas, Head of Bure IT Services. "Following the merger with Santa Monica Software Finland Oy next year, we are well on our way," adds Björn Boldt-Christmas. "Through Bure we will become an interesting and fast-growing group within the IT sector. Bure constitutes a highly-skilled owner-partner as support for our continued expansion," says Tapani Kurki, Managing Director of Santa Monica Software Finland Oy. "In addition to its expertise, Santa Monica Software Finland Oy has a leading position which both matches and complements our own. Knowledge and experience of the latest technology is very considerable in Finland. Santa Monica Software Finland Oy also has an excellent opportunity to expand on the fast- growing markets in the Baltic States," says Claes Nilsson, Managing Director of Salcom AB. /continued/ Earlier this year, Salcom acquired the network supplier, Finternet Oy, whose operations will now be co-ordinated with Santa Monica Software Finland Oy. Santa Monica Software Finland Oy was formed in 1989 by its present Managing Director, Tapani Kurki. In 1997, the ownership circle was extended with the Finnish investment company, Arctos Capital. Both will remain as owners after Bure's acquisition. In 1998, Santa Monica Software Finland Oy is expected to have sales of approximately SEK 270M with very high profitability. The company is located in Helsinki and also has operations in another three Finnish cities and a subsidiary in Estonia. Bure IT/InfoMedia is currently active within IT Services, Information Services and Trading & Distribution with companies such as CR&T, Dimension, Salcom, UDAC, Citat Mediaproduktion and Erda as well as the three listed companies, Sifo Group, Guide Konsult and Scribona. In 1998, sales within the Business Area are expected to amount to approximately SEK 11,000M. Gothenburg, 22 October 1998 Investment AB Bure (publ) For further information please contact: Björn Boldt-Christmas, Head of IT Services, Bure +46 705-887 685 Tapani Kurki, Managing Director of Santa Monica Software + 358 9-613 89 11 Finland Oya Claes Nilsson, Managing Director of Salcom AB +46 8-630 50 00 ------------------------------------------------------------ http://www.bit.se/bitonline/1998/10/22/19981022BIT00180/981022.pdf http://www.bit.se/bitonline/1998/10/22/19981022BIT00180/981022.doc