Bure new stakeholder in Buyonet
Bure new stakeholder in Buyonet Bure is getting involved with electronic trading through an investment in Buyonet and has signed an agreement for a new shares issue and convertible subordinated debentures. Buyonet is a leading reseller in Sweden and the world of downloadable software via the Internet. Buyonet was established in 1997 and is currently offering for sale 120,000 software titles for electronic sales and distribution over the Internet via its website www.buyonet.com. So far, customers in more than 120 countries have made purchases from the site. "Software is the product category that is best suited for electronic trading and distribution via the Internet. The market potential is considerable and Buyonet has the basic criteria needed to become successful on this market," says Ulf Ivarsson, Executive Vice President of Investment AB Bure and Head of Bure InfoMedia. Buyonet's site is unique as it offers six languages and 22 currencies. The company represents Microsoft, Lotus, Symantec, Qualcomm, Network Associates and other companies. 1998 sales are estimated to amount to approximately SEK 6M and the number of employees to 22, distributed on offices in Gothenburg, Stockholm, Riga and Seattle. Following conversion of the subordinated debentures and the new share issue, Bure's ownership will amount to approximately 18 per cent. Existing investors include the investment companies, Wikow and Domaren, which are controlled by the Wikander family. "With Bure as a stakeholder we will get increased financial staying power and also a valuable contact interface. This means a great deal for our continued marketing and a further spread of ownership,"says Tore Helgeson, Executive Chairman of Buyonet. Buyonet will be included in Bure InfoMedia, which is one of five Business Areas in Investment AB Bure. The Business Area has operations in the Sectors: Information Services, Media Services and Document Handling. Gothenburg, 17 February 1999 Investment AB Bure (publ) For further information, please contact: Ulf Ivarsson, Executive Vice President and Head of Business Area, Bure InfoMedia +46 705-91 28 95 Tore Helgeson, Executive Chairman of Buyonet +46 708-57 45 17 Ulrika Stenson, Information and IR, Bure +46 31-335 76 51 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/02/17/19990217BIT00450/bit0001.doc http://www.bit.se/bitonline/1999/02/17/19990217BIT00450/bit0002.pdf