First expansion outside the Nordics

First expansion outside the Nordics ProAct IT Group to acquire storage experts in Switzerland ProAct IT Group AB today signed a letter of intent to acquire 70 per cent of the stocks in TNC Storage Consultants AG, with the acquisition to be completed within the next few days. TNC's management will keep the remaining 30 per cent of stocks over the next two years, and then this will be acquired by ProAct, with the price based on achievement. The two companies have chosen not to make the conditions public. "This is our first expansion outside of the Nordics," said Per-Arne Lundberg, ProAct's President and CEO. "We chose Switzerland because its IT environment is very similar to that of Sweden. TNC is reputed for having such a huge amount of IT experience, so we will integrate very easily," Lundberg added. TNC Storage Consultants is a relatively new company with 10 employees. Like most of its clients, the company is based in the area of Zurich, and specializes in Storage Infrastructure integration, just like its new owner, ProAct. Other similarities are their business models, competences and suppliers. TNC will change its name to ProAct Datasystems AG. TNC's CEO, Stephan Schneider, has a solid background in infrastructure and data storage in the financial, pharmaceuticals and telecom sectors. Prior to TNC, Schneider was a department head at a Swiss IT company and a Country Manager for the US software company, Legato Systems. "Clients will now benefit even further with the greater structure and expertise that our larger corporation brings," said Stephan Schneider, CEO for TNC Storage Consultants AG. ProAct was founded in 1994 and is based in the Nordics. The board of directors has been committed to small acquisitions in Europe since this time, and are planning further expansion, which will benefit the company both strategically and financially. For additional information, please contact Per-Arne Lundberg, CEO of ProAct IT Group AB, on +46 8 410 666 00, or e-mail itgroup@proact.se. Additional information and pictures are available at www.proact.se ProAct is a specialist and independent integrator with know-how, methods and products in the field of infrastructure for securing mission- critical information. The company, which is active in Denmark, Finland, Norway, Sweden and Switzerland, focuses on medium-sized and large companies and organisations in need of secure and efficient handling of mission-critical information. Business is conducted in Copenhagen, Aarhus, Helsinki, Uleåborg, Oslo, Bergen, Stavanger, Trondheim, Stockholm, Gothenburg, Linköping, Lund, Sundsvall, Karlskrona and Zurich with a staff of more than 260, most of whom are technically oriented. What sets ProAct apart is the technical expertise and competence of its personnel. ProAct IT Group AB is listed on the O-list of the OM Stockholm Stock Exchange, Attract40. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/06/01/20010601BIT00140/bit0002.doc http://www.bit.se/bitonline/2001/06/01/20010601BIT00140/bit0002.pdf