SYSOPEN PLC TO EXPAND ITS PRODUCT AND TE
SYSOPEN PLC STOCK EXCHANGE RELEASE 28 APRIL 2004, 6.00 P.M.
SYSOPEN PLC TO EXPAND ITS PRODUCT AND TECHNOLOGY OFFERINGS, AND TO STRENGTHEN ITS PRESENCE IN JYVÄSKYLÄ Today on 28 April 2004, SysOpen Plc signed an agreement with Done Information Oy for buying Done Informations Software Solutions business, encompassing customer-solutions and product businesses based in Jyväskylä and Helsinki. The deal will strengthen SysOpens customer base and presence in the Jyväskylä region while expanding the companys technology and product offerings. Done Informations 26 employees will join SysOpens payroll under their current employment terms. In 2003, Software Solutions reported net sales of around EUR 1.7 million, and net sales for 2004 are expected to come to about EUR 1.3 million. Based on a cash transaction, the total price of the deal is EUR 0.79 million, which was paid at signing of the agreement. SysOpen expects to reap substantial synergies by integrating the Software Solutions business with its Jyväskylä office and streamlining its operations; the Jyväskylä unit is expected to reap such synergies in the form of higher net sales and cost-savings as early as 2004. The acquisition of Software Solutions will enhance SysOpens competitive position as a provider of solutions for industry and public- sector organisations by strengthening the existing customer base and providing a range of major new customers. SysOpens visible presence in the Jyväskylä region will also provide the company with the great advantage of making use of the centre of IT expertise built around the University of Jyväskylä, coupled with greater opportunities to offer its services to local customers and certain customers on a nationwide basis as well. Following the acquisition, SysOpen has a staff of 30 in Jyväskylä. As a result of the acquisition, SysOpens technology solutions will branch out into Lotus/Domino and Microsofts NET-based systems, coupled with expertise in ERP software integration. In addition, Dones Pro Diary, an electronic work shift diary for production plants designed for information transfer and distribution and in-house reporting, will also supplement SysOpens product portfolio. The acquisition will also enable SysOpens service centre to provide system rollout and support services. Software Solutions fits in well in SysOpens strategy and business. This acquisition will give a great boost to our expertise and delivery capabilities, says Arto Sahla, SysOpens Managing Director. I am confident that our current customers will benefit from our wider range of products and services, in addition to our greater R&D resources in both the Jyväskylä region and the Helsinki Metropolitan Area, explains Hannu Vähäsaari, Director, SysOpen. SysOpen will provide equity analysts and the press with more detailed information on the business acquisition in connection with its briefing on the Interim Report for Q1/2004, at the World Trade Center, Kabinetti 2, 2nd floor, Aleksanterinkatu 17, FI00100 Helsinki, on Thursday, 29 April 2004, starting at 10.00 a.m. All are welcome. SYSOPEN PLC Arto Sahla Managing Director For further information, please contact: Arto Sahla, Managing Director Tel. +358 (0)424 2020 339, mobile +358 (0)400 442 986, email: arto.sahla@sysopen.fi Hannu Vähäsaari, Director Tel. +358 (0)424 2020 320 email: hannu.vahasaari@sysopen.fi SysOpen in brief: SysOpen Plc is one of the leading integrated eSolutions providers in Finland. Established in 1990, the company has been listed on the Helsinki Exchanges since 1999. It provides its customers with IT expert services and software that boost their businesses. The Group's business areas include Enterprise Application Solutions, Software Solutions and the supporting IT Consulting Services and Technology Development. Integrating information systems with new business critical mobile and Internet solutions is one of its key strengths. With a turnover of EUR 25.2 million in 2003, the company has a staff of 270. DISTRIBUTION Helsinki Exchanges Major media