Thalamus Networks concludes definitive agreement with TurnIT to acquire Fiberdata

Report this content

Thalamus Networks concludes definitive agreement with TurnIT to acquire Fiberdata Thalamus Networks AB has today concluded a definitive agreement with TurnIT to acquire Fiberdata AB. The purchase price is MSEK 20, with the possibility of a small supplementary payment. The purchase price is lower than the originally announced MSEK 58 due to a change in the content of the transaction between the parties and a change in business conditions. The purchase price will be lower than previously announced as a consequence of the unexpected cancellation on September 20, 2002 of an agreement Fiberdata had with a major customer, MKB Fastighets AB. Fiberdata concluded a frame agreement with MKB Fastighets AB during the third quarter of 2000 for deliveries in a total amount of MSEK 100. - It's a good thing that the deal is now completed and that the Group's resources can now be concentrated on operations. In our judgment, Fiberdata possesses good profitability potential. However, it will take longer than previously anticipated to make the company profitable, says Jan Norman, President & CEO of Thalamus Networks AB in a comment. - Our ambition is to resolve the problems that have arisen with MKB Fastighets AB and we are hoping for a continued customer relationship, says Torbjörn Eriksen, President & CEO of Fiberdata AB. Thalamus Networks AB ( The Thalamus Group, of which Fiberdata AB is a part since September 2002, offers tenants and owners of properties and networks broadband information technology services that serve as a foundation for efficient property management, reliable and fast communication, and value added in their properties or networks. Thalamus is listed on the O-list of the Stockholm Stock Exchange. The company has existed since 1987 and has a total of about 210 employees in Sweden and Norway. Aside from Fiberdata AB, Thalamus Networks includes subsidiaries Thalamus Operations AB and Thalamus Consulting AB. The Fiberdata Group ( Fiberdata celebrates its 20th anniversary this year. Since inception in 1982, Fiberdata builds large networks and delivers infrastructure for data communications and telecommunications. The business concept is to "best in its class," by focusing on advanced communications solutions with technology at the absolute cutting edge. A unique possibility of combining standard solutions with customer-specific solutions gives Fiberdata a special position in the marketplace. For 2001, Fiberdata had revenues of MSEK 323. Fiberdata is a part of the Thalamus Group since September 2002, and consists of three main units, Integration, Installation and Consulting. For further information, contact Jan Norman, President & CEO, Thalamus Networks AB. Telephone: +46-8-691 09 00 Mobile: +46-70-544 95 08, e-mail: ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download: