Ledstiernan creates Europes leading Business Solution Provider
Ledstiernan creates Europes leading Business Solution Provider - Landsteinar SystemPartner is planning a flotation in the fourth quarter of 2000 Landsteinar International hf., Landsteinar Svenska AB (formally QD Utveckling AB and one of Ledstiernan's portfolio companies) and Dansk Systempartner A/S have signed a letter of intent regarding the merger of the three companies to form the leading supplier of business solutions in Europe. The merged group will be named Landsteinar SystemPartner and have its headquarters in Copenhagen. In recent years Landsteinar International have specialised in providing solutions based on Navision software products and is the leading provider of Navision Financials in Europe. Dansk Systempartner has specialised in Damgaard products and is one of the top three providers of Concorde and Axapta in Europe. Landsteinar SystemPartner will therefore be in the forefront of product development and expertise on both these platforms. The merger strengthens the companies internationally as a knowledge-based group providing specialised business solutions. The merged group will be a leader on two of the best known platforms in Europe with vertical solutions and specialist expertise for various industries. It also has a leading position as a provider of ASP and e-business solutions and in the development of applications for those markets. The estimated turnover of Landsteinar SystemPartner 2000 is approx 500 MSEK.The group has currently 440 employees. It has subsidiaries in the Denmark, Sweden, Iceland, Finland, Great Britain, Jersey, Germany and Lithuania and also is co-ordinator of a world-wide network of international partners in business solution implementation. The merged company is evaluating further opportunities for expansion and is planning a flotation in the fourth quarter of this year on an international stock exchange. The chairman of Landsteinar SystemPartner will be Leif Almstedt from the Swedish venture capital company Ledstiernan AB, the CEO will be Peter Sander Larsen, currently CEO of Dansk Systempartner A/S, and the COO will be Adalsteinn Valdimarsson, currently CEO of Landsteinar International hf. The main shareholders in the merged group will be Peter Sander Larsen Holding, Ledstiernan and the Icelandic Software Fund. For further information contact Peter Sander Larsen tel: +45 (43) 29 01 00, Adalsteinn Valdimarsson tel: +354 (864) 2535 or Leif Almstedt, Ledstiernan tel: +46 (8) 545 035 08. Ledstiernan is creating Europe's leading Seed and Venture Capital company within the TIME sector, focusing particularly on Mobile Communication. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/04/27/20000427BIT00610/bit0001.doc http://www.bit.se/bitonline/2000/04/27/20000427BIT00610/bit0002.pdf