Connecta to acquire Itvision

Connecta to acquire Itvision Connecta today signed a signed a Letter of Intent covering the acquisition of the Itvision Internet company. Itvision develops customized interactive training programs, together with its customers, which are distributed via the Internet or intranets. Itvision currently has 11 employees with operations mainly in Stockholm. Its customers are primarily major Nordic companies. Itvision is a consulting company which has, for example, developed the Itvision Campus concept for the production and distribution of customized training programs via the Internet and intranets. The concept includes teaching methods developed in cooperation with leading training institutions in Sweden and the UK, and is based on studies of individual behavior in the new digital distance-learning education channel. Itvision Campus is based on a combination of teaching methodology, video technology, interactive exercises, self-testing and certification. Customers include Ericsson, SAS, Nordbanken and Littlewood's Stores. "We have been looking for a partner that combines Internet expertise with strategic management know-how," says Jonas Fors, Itvision's President. "Connecta will give us the resources and support we need to handle the expansion required to cope with the demand for our services. Backed by Connecta, Itvision will grow faster on a market which is expanding at a rate of 50% annually." "Itvision is active in an exciting and expansive market," comments Johan Wieslander, Connecta AB's Executive Vice President. "Itvision has developed a concept with considerable growth potential, including teaching methods incorporating Internet solutions and multimedia, and has highly skilled personnel and good management who have already developed a profitable company. We see major synergies between the two companies." The planned acquisition is not expected to have any significant impact on earnings per share in the short term. For additional information, please contact: Johan Wieslander, Executive Vice President and Chief Operating Officer Telephone: 412 30 00 E-mail: johan.wieslander@connecta.ser Christer Jacobson, Chief Executive Officer and President Telephone: 412 30 00 E-mail: christer.jacobsson@connecta.se Jonas Fors, President, Itvision AB Telephone: +46-8-632 05 25 E-Mail: jonasf@itvision.co.uk Connecta is an Internet consulting company in the field of business development via the Internet. The company offers services in the following areas: Strategy, The Internet & IT, and Human Resource Management. With its total-approach concept, Connecta can be a full-service supplier to large companies and organisations, offering consulting services that strengthen customers' ability to conduct business in the new digital economy. Connecta currently has approximately 400 employees and is headquartered in Stockholm, Sweden. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/10/14/19991014BIT00710/bit0001.doc http://www.bit.se/bitonline/1999/10/14/19991014BIT00710/bit0002.pdf