Cell Network AB signs final contract with Internet company in Malaysia
Cell Network AB signs final contract with Internet company in Malaysia Cell Network AB (publ) has signed a final contract on the acquisition of the Internet company BRG Interactive Digital Media Sdn Bhd (IDM) in Malaysia. Cell Network has acquired 100 per cent of the shares of IDM. The acquisition is being implemented through a new share issue in Cell Network AB. - The acquisition of IDM is the first step in our expansion in Asia, says Marcus Bäcklund, President and CEO of Cell Network. We are the first to establish ourselves in the Asian market, which gives us a big advantage compared to other international players. IDM IDM was established in 1994 by its president Gerard Linn and vice president Koay Chee Keong with a vision of becoming the leading Internet supplier of e-business solutions for Asian companies. Today, the company has 40 employees with core expertise in strategy, technology and design. The company's projects have been nominated several times and won awards for the best Web site of the year. Award winning sites include Sony and Xtreme Webs, which were winners in the PIKOM-computimes IT awards. IDM also developed Malaysia's largest e-commerce portal, www.midvalley.com.my, which includes 430 specialty shops. The company is an established leader with companies such as Hewlett Packard, Motorola, Sony and Maxis among its existing customers. Because the company's operations have received MSC (Multimedia Super Corridor) status, they are tax-exempt for a ten-year period. For further details about customers and e-business solutions, visit www.idm.com.my. Contacts: Marcus Bäcklund, President and CEO, Cell Network AB (publ), +46 8 52 20 40 00 Arvid Liepe, head of Corporate Communications and Investor Relations, Cell Network AB (publ), +46 8 522 041 85, +46 709 56 51 85 The Internet company Cell Network AB (publ) is listed on the OM Stockholm Stock Exchange's O-list and has international operations in Sweden, Norway, Denmark, France, Spain, United Kingdom, Germany, Switzerland, and Malaysia. The Group is a leading Internet consulting company for business development based on new digital media and aims to be one of the market leaders in the world. Customers include General Electric, Telia, Nokia, ABB, Volvo, Telenor, Renault, Saab, Banque Nationale de Paris, Ericsson, Braathens Malmö Aviation, AstraZeneca, Procordia, De norske Bokklubbene, Nationalencyklopedin, Svenskt Flyg, Bonnier, Torget (Swedish Post) and Electrolux Home. To subscribe to press releases online, visit www.huginonline.com or www.bit.se ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/03/15/20000315BIT00720/bit0001.doc http://www.bit.se/bitonline/2000/03/15/20000315BIT00720/bit0002.pdf