Connecta and Skandia Investment start venture company

Connecta and Skandia Investment start venture company Connecta and Skandia Investment KB are creating a joint-venture company for investments in companies and concepts with Internet-related business models. The two companies will each have a 37.5% stake in the new company. The remaining 25% will be owned mainly by the venture management. Connecta and Skandia Investment are jointly creating a powerful instrument with which to take advantage of attractive business concepts in the new digital economy. Connecta can contribute qualified strategy consultants. Skandia Investment is gaining an opportunity to establish relationships with companies in a very early stage of development; it can contribute a broad network of contacts and can support companies and projects that are in a stage of development that is too early for the fund's normal investment operations. The new company will initially have SEK 40 M available for investments. Outside investors will be invited to join the venture, which will increase the capital assets to approximately SEK 150 M. The company will be very actively involved in its investments, which will focus on projects and concepts with Internet-related business solutions. Examples include mobile services and applications as well as business-to- business and business-to-consumer projects. In a period when time-to- market is becoming increasingly important, a smooth-functioning joint- venture operation can give companies a lead over their competitors. "As a result of this investment, our shareholders can gain growth in value beyond the normal results of consulting operations, from projects and company formations that consulting operations create for customers," says Christer Jacobsson, Connecta's president. "For our consultants, the new company will mean exciting new opportunities to work with start-up firms and new programs in the digital economy. The planned merger with Information Highway is creating additional opportunities for exciting business concepts." "Connecta's Internet experience and management know-how, combined with Skandia Investment's long financial experience and broad network of contacts, is creating attractive opportunities to take advantage of concepts with Internet-related business models," Christer Dahlström, president if Skandia Investment, says. "For Skandia Investment, this provides an opportunity to establish relationships with attractive e- commerce companies at an early stage." The president of the new company will be appointed in the near future. Merger of Connecta and Information Highway Connecta AB and Information Highway AB plan to merge. This will create one of the leading consulting companies in Europe with a focus on strategic Internet solutions. The new Group will have a very strong platform for continuing rapid international expansion. The two companies combined today have approximately 1,200 employees and the objective is to have at least 2000 by the end of the year. Stockholm, March 14, 2000 Connecta AB (publ) For additional information, please contact: Christer Jacobsson, President, Connecta AB (publ) Telephone: +46-8 412 30 00 Mobile: +46-70 571 74 47 E-mail: christer.jacobsson@connecta.se or Christer Dahlström, President, Skandia Investment KB Telephone: +46-8 459 67 60 Mobile: +46-708 24 71 09 E-mail: christer.dahlstrom@priveq.se Connecta [www.connecta.se] Connecta AB is an international consulting company that works in the area of business development with the Internet. The company offers services in the following areas: Strategy, Internet and Human Resource Management. With its "total approach" concept, Connecta can be a full-service supplier to large companies and organizations and can offer consulting services that strengthen its customers' business ability in the new digital economy. Connecta, which was founded in 1993, today has approximately 580 employees. The company's shares are listed on the "O" List of the Stockholm Stock Exchange. The chief executive officer is Christer Jacobsson. Connecta is supplying solutions for SEB, Skandia, Ericsson, Folksam, Volkswagen and Thompson (Fritidsresor), among other clients. Skandia Investment KB [www.skandia.se/ski] Skandia Investment KB is a venture-capital company that invests in Nordic growth companies that have ambitions to list their shares publicly. The company is owned by Skandia, the Fourth National Pension Fund, Handelsbanken Liv, ICA and Orkla. The total capital amounts to SEK 1 billion. Since it was established in 1983, Skandia Investment has made nearly 80 investments in unlisted companies and has arranged the market introductions of more than 20 companies. Information Highway [www.infohwy.se] Information Highway helps companies take advantage of business opportunities in the new network economy. We strengthen the competitiveness of our customers and make them successful in the digital arena by supplying Internet-based solutions that are characterized by business acumen, creativity and cutting-edge technical expertise. "A safe ride to the new economy." Information Highway was founded in 1994 and 540 persons are currently employed in the company's Business, Interactive and Technology Consulting sectors in ten locations in Sweden, as well as in Norway, Denmark, Finland and England. The company's shares are listed on the "O" List of the Stockholm Stock Exchange. The chief executive officer is Göran Wågström. Information Highway has a customer base of approximately 300 companies and is providing solutions for ABB, Ericsson, Telia, ATG, Fondex, SAS, Stadium, SMHI and Locus Medicus. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/03/14/20000314BIT00350/bit0001.doc http://www.bit.se/bitonline/2000/03/14/20000314BIT00350/bit0002.pdf