Observer acquires News Online group
Observer acquires News Online group The acquisition provides Observer's Communications division with such well-known information companies as Svenska Media, InformationsProjekt i Bara and Infomedia in Norway. Observer acquires News Online group and integrates the acquired companies with BIT's Nordic operations. The News Online companies are market leaders in Sweden and Norway in Nordic media data. The information is used by around 4,000 information departments and PR agencies in their communication with journalists and editors. The information is available in the form of books, CD's and online databases. Recognized brands in the industry include Svenska Massmedia, the Norwegian Media Handbook, Leading Nordic, the Swedish Media program and the Norwegian Media program. The group also distributes clients' press releases to the media by mail, fax, e-mail and the Internet. News Online, which has a competent management and significant IT resources, will be an important element in the continued development of BIT's Nordic organization. "The acquisition is an important step in our further development of the Communications division," says Observer CEO Robert Lundberg. "There are considerable synergies between BIT and the News Online companies. With this acquisition, we can further develop the client solutions for communicating with the media and stock market that we are striving for." Observer is acquiring the News Online group from Drax-owned Dicom and News Online's management. The group had a turnover of approximately SEK 22 million in 2000, with around 30 employees in Sweden and Norway. The acquisition is expected to have a positive impact this year on Observer's profit per share excluding goodwill amortization and items affecting comparability. Observers' Communications division offers communication solutions primarily for clients in IR and PR. The division builds databases on strategically important target groups in the media and financial world. Clients are also offered tools and channels for the distribution and publication of business information as well as the evaluation of communication activities. Operations are conducted in the UK, Sweden, Finland, Denmark, Norway and Germany. About Observer AB Observer AB, quoted on the O-list of the Stockholm Stock Exchange, has a turnover of slightly over SEK 1.1 billion on a rolling twelve-month basis, with around 1,800 employees in the UK, Sweden, Germany, Finland, Norway, Denmark, Portugal, Ireland, Estonia, Latvia, and Lithuania. For further information, please contact: Robert Lundberg, President and CEO, phone +46 8 507 410 10, e-mail robert.lundberg@observergroup.com Jan-Erik Jansson, Chief Financial Officer, phone +46 8 507 410 14, e- mail: jan-erik.jansson@observergroup.com Per Blixt, Senior VP Corporate Communications, phone +46 8 507 410 12 or +46 70 549 28 08, e-mail per.blixt@observergroup.com This press release is also available online at: www.observergroup.com ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/05/10/20010510BIT01070/bit0001.doc http://www.bit.se/bitonline/2001/05/10/20010510BIT01070/bit0001.pdf