Proha PLC acquires norwegian Safran Software Solutions AS
PROHA PLC ACQUIRES NORWEGIAN SAFRAN SOFTWARE SOLUTIONS AS Proha Plc (hereinafter Proha) has made a contract with the share- holders of Safran Software Solutions AS, according to which Proha will acquire a 60% holding of Oslo and Stavanger based Safran Software Solutions AS company. In addition, Proha will have an option to purchase the remaining shares of the company. Safran Software Solutions AS is a leading project management solution provider in Norway. Safran Software Solutions AS develops and sells Safran Project software. The software has a leading market share in the Norwegian offshore industry. The acquisition of Safran Software Solutions AS supports Proha's international growth strategy. With this acquisition Proha will become the leading project management solution provider in the Norwegian offshore industry. Proha will continue to grow internationally and it is presently negotiating over additional acquisitions. During this year, Proha's target is to achieve the market leader position in project management IT in the Nordic countries and gain a steady foothold outside the Nordic region. Safran Software Solutions AS will continue as an independent subsidiary of Proha within its Project Management business area. Safran's strong position as a provider for offshore industry improves Proha's position in the market. Safran Project and Safran Planner products strengthen and expand Proha Group's project management software selection. Proha's extensive software portfolio, in turn, creates new possibilities for Safran in offshore industry especially in the Norwegian and European markets. The purchase will be conducted as an exchange of shares. In the share trade the owners of Safran Software Solutions AS are offered a total of 300,000 new shares of Proha Plc. The shares offered amount to approximately 5.7% of the share capital of Proha Plc after the share trade. A part of the new shares include a sales restriction, which will expire in two years. The acquisition will come into force, when Proha Plc's Board of Directors has decided to accept the acquisition and when Proha has realized the share emission. Safran Software Solutions AS in a nutshell Safran Software Solutions AS develops and sells Safran Project software that is targeted for offshore industry. About 350 licences of the software have been sold. The marketing of the company's new Safran Planner software is about to start. The clientele of Safran Software Solutions AS consist of large and middle size offshore industry companies. Safran Software Solutions AS has currently 12 employees. The employees are the main owners of the company. The company's net turnover for January 1 to December 31,1999 was NOK 11.0 million and profit before taxes NOK 3.72 million. The company's net turnover for current financial year is estimated to be about NOK 18 million and profit before taxes approximately NOK 4 million. Proha in a nutshell Proha is a fast growing, profitable, internationally operating IT services company. Proha concentrates on management in the Internet age. The key business areas are Project Management, Financial Management and Internet Technologies. After this contract the number of employees in Proha Group will be 212. Proha Plc Pekka Pere CEO For more information please contact PROHA PLC CEO Pekka Pere, tel. +358 20 4362 000 pekka.pere@proha.fi http://www.proha.fi DISTRIBUTION: Helsinki Stock Exchange Major Media ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/04/06/20000406BIT00690/bit0001.doc http://www.bit.se/bitonline/2000/04/06/20000406BIT00690/bit0002.pdf