Effnet acquires Wkit

EFFNET ACQUIRES WKIT Effnet Group AB has signed a Letter of Intent to acquire Wkit Online AB for 340 000 Effnet Group AB shares. The acquisition is subject to normal due-diligence. Wkit is a security company engaging some of the world's leading computer network security experts as employees. The company will act as the testing force of client networks, and the operational marketing force of Effnets' security products, by testing the clients networks with respect to security and advice on improvements. Furthermore, Wkit will be able to give the Effnet R&D team input and requirements on how to further improve the security in the products and stay on the leading edge of technology development. Wkit will add its security products for copy protection and the Wkit Online Capture System for restoration of files (WOCS) to the Effnet product portfolio. "The acquisition of Wkit will give Effnet an improved strong edge in the security field and an international network amongst potential clients. It gives us the ability to speed up the commercialisation of our internationally renowned technology", says Tomas Althén, CEO of Effnet Group AB. "With Effnet as our owner we will significantly improve our possibilities to rapidly take a lead in this new emerging market and to speed up our go- to-market strategy", says Rune Hurtig, Chairman of Wkit Online AB. For further information please contact: Tomas Althén, Effnet Group AB, Phone +46 708-151615 or, Rune Hurtig, Wkit Online AB, Phone +46 70-524 80 14 About Effnet: Effnet's mission is to develop, market, sell and distribute network products and network technologies for solving Internet communications bottlenecks, and to thereby create maximum customer benefit. Effnet commercialises its technology in three ways: products under its own trademark, through OEM agreements and by licensing the technology to other players in the network industry. In 1999, Effnet grew from being a pure development company into a commercial player in the network market. The company is now in a phase in which the focus is on marketing and sales. Effnet's long-term goal is to become one of the world's leading players in solving current and future Internet communications bottlenecks. Effnet currently has four locations: Stockholm, Luleå, Boston and Mountain View, California. Effnet Group AB is listed on OM Stockholm Stock Exchange, New Market. The company has 59 employees. Learn more about Effnet at www.effnet.com. About Wkit: Wkit engages some of the world's leading computer network security experts as employees. The company is working with security related products and services in the IT sector. On the product side of the company Wkit has, among others, developed a unique copy protection product for CD's. In the service side of the company Wkit is working with analysis of corporate security, both regarding hacker attacks as well as internal security. Wkit was established in early 1998 and is located in Håverud, Sweden. At present day, the company has 17 employees. Learn more about Wkit at www.wkit.se. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/03/14/20000314BIT00010/bit0001.doc http://www.bit.se/bitonline/2000/03/14/20000314BIT00010/bit0002.pdf