SYSteam new hub in Bure IT

The IT consulting company, SYSteam, new hub in Bure IT Bure IT acquires 30 per cent of the IT consulting company, SYSteam AB, and also acquires an option to acquire additional shares. Through the acquisition, Bure IT begins an investment in standardised business systems and IT for medium-size companies. Bure IT thus maintains its position as one of the main suppliers of advanced IT services. SYSteam is a leading IT consulting company in Sweden with approximately 500 employees. In addition, the company has subsidiaries in Norway, Denmark and Poland. SYSteam, which concentrates mainly on the medium-size companies segment, has had a very string development with an annual growth of around 60 per cent in recent years. In 1998, the company reported sales of approximately SEK 470M and an operating margin of more than 10 per cent. "With Bure we get a broader ownership through a stable and long-term owner which in addition has a unique network of IT service companies. SYSteam will form Bure's hub within business systems and the customer segment, medium-size companies. This is something that will strengthen us in our continued expansion and provide added value for our customers," says Stig-Olof Simonsson, President and stakeholder in SYSteam AB. The fast-growing SYSteam is one of the largest implementers in Sweden of standardised business systems. The company is the main partner of JD Edwards and Jeeves on the Scandinavian market and provides its customers with implementation assistance, expert help and continuous service. SYSteam works mainly as a partner with its customers. "SYSteam belongs to the category of IT consultants which has positioned itself towards medium-size companies with a competitive systems portfolio which is a profitable and long-term strategy," says Björn Boldt-Christmas, Head of Business Area Bure IT. "With our involvement in SYSteam, we lay the foundation for a long-term investment in the fast-growing and strategic sector, standardised business systems and the medium-size companies segment." Bure IT forms one of five Business Areas in Investment AB Bure. In 1998, the Business Area reported sales of approximately SEK 2 billion through the companies: Salcom, Santa Monica Software, AXNet, Dimension, Guide Konsult, Udac, CR&T and Erda. The approval of the Competition Authority is required for the final implementation of the deal. Gothenburg, 12 April 1999 Investment AB Bure (publ) For further information, please contact: Björn Boldt-Christmas, Head of Business Area Bure IT, +46 31-335 76 85 Knut Leman, Head of Information, Bure, +46 31-335 76 75 Stig-Olof Simonsson, President of and stakeholder in SYSteam AB, +46 36-14 91 02 SYSteam AB, switchboard, +46 36-14 91 00 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/04/12/19990412BIT00600/bit0001.pdf http://www.bit.se/bitonline/1999/04/12/19990412BIT00600/bit0002.doc