Information Highway acquires Finland€s Netmill €and creates a centre of excellence for Linux

Information Highway acquires Finland's Netmill - and creates a centre of excellence for Linux Information Highway, which provides Internet-based business solutions, has written a letter of intent regarding the acquisition of Finnish Internet player Netmill, with 40 employees and in-depth Linux skills. Netmill, one of Finland's leading Internet companies, brings clients such as Lufthansa, Shell and Arla, plus international contacts including UCLA. Netmill supplies user-oriented solutions that unite Internet communication and leading-edge technology. The company will comprise Information Highway's international centre of excellence for Linux/Open Source-based business solutions, and also enjoys lengthy experience of e-commerce and Customer Relations Management. The company's primary clients are in the consumer goods, digital media, transport and energy segments, and include corporates such as Lufthansa, Shell, Arla Finland and Blue Book, as well as design, marketing and PR players. The company was incorporated in 1996 and has branches in Helsinki and Åbo. The company employs 40 people, 15 in interaction design, 20 technology specialists and 5 in sales/admin. "Netmill has a wealth of exciting assignments in Finland, Denmark, Norway, Sweden and Benelux. Netmill comprises an excellent base for our sustained growth and will become Information Highway's international centre of excellence for Linux-based Internet solutions," said Göran Wågström, Information Highway's President. Including Netmill, Information Highway's headcount now amounts to 390. The purchase price will be paid in the form of newly issued Information Highway shares, and will be based on performance and growth over the coming year. Jari Ala-Ruona, Netmill's CEO's view was that "alongside Information Highway, we will become Finland's No. 1 Internet player, with healthy profitability and annual sales of around SEK 30 m. We will also get the opportunity to function internationally and be the group's centre of excellence within Linux." Netmill began life as the organiser of the Helsinki Business School's "Business Olympics", and retains its close ties to the academic world. Netmill is currently participating in an international development project run by UCLA (the University of California at Los Angeles), in which UCLA students gain experience of entrepreneurship and international growth companies, while Netmill's business and contact network grows. Sundbyberg, Sweden, 22 November 1999 Information Highway AB (publ) For further information, please contact: Göran Wågström, Information Highway's President, tel: +46 (0)8 635 1520, +46 (0)70 526 2758 Jari Ala-Ruona, Netmill's CEO, tel: +358 9 612 62313, jari.ala-ruona@netmill.fi, www.netmill.com Information Highway assists companies to exploit the business opportunities presented by the new network economy. We consolidate our clients' competitiveness, making them successful in the digital arena by providing Internet-based solutions characterised by business expertise, creativity and leading-edge technology skills. Information Highway was founded in 1994 and currently employs over 350 people in its Business, Interactive and Technology Consulting business areas in nine locations in Sweden, as well as in Norway, Denmark and the UK. The share is quoted on the Stockholm Stock Exchange's O-list. Göran Wågström is the group CEO. Information Highway has a client base of about 200 businesses, and provides solutions for ABB, Ericsson, Telia, ATG, Fondex, SAS, Stadium, SMHI and Locus Medicus. [More information available at http://www.infohwy.se] ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/11/22/19991122BIT00010/bit0001.doc http://www.bit.se/bitonline/1999/11/22/19991122BIT00010/bit0002.pdf