Uninterrupted progress for streamlined Cyber Com
Uninterrupted progress for streamlined Cyber Com Cyber Com has finalised the closure of its Market Communications business area. As part of this move, certain activities within Cyber Com Pir have been transferred to a new company, Shouhyou, partly owned by former Pir employees. Cyber Com will also retain a 15 percent stake in Shouhyou. Pir, a web development, design and market communications company, was acquired by Cyber Com in August 1999. The MSEK 8 costs of this closure, now completed, are in line with previous reports and will be charged against fourth quarter earnings for 2000. "Concentrating on our core business of e-Business and telecoms, is one reason why we have been able to make uninterrupted progress. It is pleasing to now report that we have also been able to resolve the closure of our Market Communications business area in such a way that ensures both Cyber Com and the new company Shouhyou have the strength to meet the challenges the new year will bring," says Mats Alders, President of Cyber Com. Shouhyou will specialise in Internet Branding, a new method of building and strengthening personal brands via the Internet. The turbulence within the IT sector over the past 12 months has not hindered Cyber Com's plans for expansion. The company launched a new recruitment drive in early December to meet the demand of employment growth. In its latest financial report for the first three quarters of the year 2000, Cyber Com announced operating earnings before good will amortization of MSK 21.3. Turnover rose 94 percent compared with the same period in the previous year. The business area Telecoms and Services offers consulting services and package solutions to the telecoms sector. The company is one of the market leaders in payment solutions for mobile services. Clients include leading players such as Ericsson, Netcom and Telia Mobile. Within e-Business the company sells advanced consulting services to manufacturing industry, commerce and financial sectors. The main focus lies in business to business trade. Major clients include DFDS Torline, ASSA and brokers the Nordiska Fondkommission. For further information please contact: Mats Alders, President Cyber Com Tel: +46 (0) 70-725 32 00 Email: mats.alders@cybercom.se Gunilla Sten, Finance Director Cyber Com Tel: +46 (0)708-644 722 Email: gunilla.sten@cybercom.se Or visit www.cybercom.se ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/01/12/20010112BIT00440/bit0001.doc http://www.bit.se/bitonline/2001/01/12/20010112BIT00440/bit0002.pdf