Cybercom acquires Consafe Infotech

Cybercom acquires Consafe Infotech Cybercom purchases Consafe Infotech and becomes one of the Nordic countries' leading consultancies serving the telecom sector. "With Consafe Infotech, we become one of the three largest consultancies that support the telecom sector in the Nordic countries," says Mats Alders, president and CEO of the Cybercom Group. "Consafe Infotech is strongly rooted in southern Sweden and Norway, which complements us well from a geographic perspective. It is a well-run company, and the acquisition positively affects our profitability." The deal is part of Cybercom's strategy to achieve its financial goal of SEK 750 million in sales and an 8% operating margin within three years. The JCE Group owns Consafe Infotech, which develops telecom and datacom solutions, mainly for the telecom industry and for telecom operators. The company is expected to turn over SEK 95 million and to achieve a 10% operation margin this year. "We value executive management's strategy and the capabilities that exist within Cybercom," says J Christer Ericsson, board chairman of Consafe Infotech and the JCE Group."Together, we have a strong offering. Cybercom is a stimulating operation that's well aligned with our investments in IT companies. As one of the largest owners, I intend to actively participate in Cybercom's strategic development. After the deal the JCE-group will own 10% of the shares in Cybercom.The preliminary purchase price is based on SEK 62.5 million, on a debt-free basis. The final price will be finalised on the day of takeover, after the extraordinary general meeting's approval. A result-based supplementary amount will be added to the purchase price. Half the acquisition will be financed through a new issue of Cybercom shares; the other half will be paid in cash. The deal is not expected to incur structure costs. Cybercom is also reviewing its e-business operation to be more focused and ensure profitability within this area. Structure costs of SEK 6 million will burden Q4 2003 financial results, and savings will reach SEK 10 million on an annual basis. Journalists and analysts are invited to a press meeting at 10 a.m. in Cybercom's office at Norrmalmstorg 16 in Stockholm. Mats Alders, Cybercom's president and CEO, Per Edlund, Consafe Infotech's CEO, and J Christer Ericsson and Gert Schyborger, chairmen of the two companies' boards, will participate. For more information, please contact: Mats Alders, president and CEO of the Cybercom Group, cell: + 46 707 253 200; mats.alders@cybercomgroup.com J Christer Ericsson, Consafe Infotech's and the JCE-group's board chairman, +46 708 199 130; christer.ericsson@jcegroup.se Photos available at http://www.cybercomgroup.com/templates/CCPictureArchive.aspx?id=3621 About Cybercom Cybercom is an IT consulting company that focuses on developing and strengthening its customers' operations by delivering IT solutions that generate more business for its customers. The company offers expertise primarily in telecom and finance. Cybercom was launched in 1995; since 1999, it has been quoted on the Stockholm stock exchange's O list (Stockholmsbörsen). The company is financially sound; it currently employs about 300 people (an average of 13 years' consulting experience), who in a creative, stimulating milieu, add value in the form of professionalism, experience, customer relations, and the results that they deliver. Cybercom has operations throughout Europe and offices in Denmark, Sweden, and the UK. www.cybercomgroup.com About Consafe Infotech Consafe Infotech is an IT and telecom company that develops sophisticated mobile-information and business solutions. Its customers include system suppliers, operators, service providers, and larger companies. The company consists of three subsidiaries, with offices in four regions: Malmö, Linköping, Kista, and Oslo. www.consafeinfotech.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/12/04/20031204BIT00020/wkr0001.doc http://www.waymaker.net/bitonline/2003/12/04/20031204BIT00020/wkr0002.pdf