Observer acquisition in Portugal
Observer acquisition in Portugal Observer is acquiring Portugal's leader in media and market monitoring, Memorandum SA. The acquisition gives Observer a strong foothold in the Latin market. Memorandum is a sophisticated company with an extensive network of partners in Latin America and Spain. With the acquisition of Memorandum, world-leader Observer is making its first inroads in Southern Europe and the Latin market. Privately held Memorandum is the market-leader in Portugal and has, among other things, developed advanced methods for online market monitoring. The company has a wide-ranging network in Latin America, with partners in Brazil, Chile, Argentina, Mexico, Venezuela, Uruguay, Paraguay, Bolivia, Colombia, Peru and Costa Rica. The network also includes Spanish companies. Memorandum's partners are leading players in media and market monitoring in their respective markets. The acquisition increases Observer's opportunities to capitalize on the growing market for international services. Memorandum operates in Portugal through offices in Lisbon and Coimbra. The company has around 80 employees and sales in 2000 of approximately SEK 20 million. "This is an exciting acquisition for us," says Observer CEO Robert Lundberg. "It is our first inroads in the Latin market. Memorandum's operations in Portugal are sophisticated and meet today's high demands for advanced technical solutions and services. Now we will also have direct access to a large number of interesting partners in Latin America and Spain." Memorandum is expected to contribute positively to the Group's cash flow as quickly as the first year. Facts about Observer AB Observer AB (formerly Sifo Group), listed on the OM Stockholm Exchange's O- list, operates in the fields of media and market monitoring, analysis and evaluation, target group identification for and procurement of information for PR and IR purposes. On a rolling twelve-month basis, Observer AB has a turnover of more than SEK 1,100 million and employs around 1,700 people in the UK, Sweden, Germany, Norway, Finland, Denmark, 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 Hans Strand, Executive VP & COO, phone +46 8 507 417 05, e-mail hans.strand@observergroup.com Per Blixt, Senior V P Corporate Communications, phone +46 8 507 410 12/+46 70-549 28 08, e-mail per.blixt@observergroup.com This press release is also available 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/2001/03/08/20010308BIT01230/bit0002.doc http://www.bit.se/bitonline/2001/03/08/20010308BIT01230/bit0002.pdf