Ecovision acquires Newmedia - a leading provider of online financial information services on the Scandinavian market.
Ecovision acquires Newmedia - a leading provider of online financial information services on the Scandinavian market. Ecovision AB has acquired Newmedia.se AB from Swedish Modul 1 Data Group. Newmedia is specialized in delivering solutions for the presentation of financial information on the Internet and intranet. Among Newmedia's customers are Handelsbanken, FöreningSparbanken, Skandiabanken, Carnegie, Länsförsäkringar and Dagens Nyheter. Ecovision is a leading provider of financial information systems in the Nordic countries. After Ecovision's acquisition of Newmedia, the Newmedia services will be marketed as "Ecovision Newmedia". - The acquisition of Newmedia strengthens Ecovision's position within Internet based financial information services, says Paul Östling, Managing Director of Ecovision AB. We made a very successful acquisition in Finland in 2002 and we expect the acquisition of Newmedia to contribute at least equally much to the expansion of Ecovision, says Paul Östling. The acquisition of Newmedia implies an expected increase of revenue for the Ecovision Group of over 15 million SEK in 2004. - For Newmedia and its customers it is very positive to be part of to the Ecovision Group, says Fredrik Lönnquist, Managing Director of Newmedia. It will enable Newmedia to further develop its offerings and to contribute to making Ecovision the number one Nordic provider of financial information, says Fredrik Lönnquist. Ecovision group revenue in 2002 amounted to 64.4 million SEK and the operating result was 8.6 million SEK. The Ecovision group has 32 employees and has activities in Sweden, Norway, Finland, Denmark and the Netherlands. Ecovision shares are listed on the Stockholm Stock Exchange, New Markets. The following companies are part of the Ecovision Group: Ecovision ProTrader - with real-time financial information, Ecovision Solutions - developing and operating customized trade- and information services, and the Ticker News Agency, with real-time news for the financial markets. Paul Östling, Managing Director Ecovision AB tel. +709 67 90 00 Christer Bergquist, Managing Director Modul 1 AB tel. +46 8 568 410 00 Fredrik Lönnquist, Managing Director Newmedia AB tel. +46 8 545 68 200 www.ecovision.se www.newmedia.se www.modul1.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/06/30/20030630BIT00720/wkr0001.doc http://www.waymaker.net/bitonline/2003/06/30/20030630BIT00720/wkr0002.pdf