DataVis to acquire IT consultant Systemintegration

DataVis to acquire IT consultant Systemintegration DataVis is to merge with IT consultant Systemintegration. This represents a further step in the strategy to establish DataVis as a nationwide total supplier of IT services. The merger will create a broad and strong IT services supplier with close to 300 employees and offices in eleven locations in Sweden and in Copenhagen. Systemintegration, which was founded in 1994, specialises in developing and integrating complex systems, particularly in the telecom sector. Today, the company has some 60 employees, of whom 56 are consultants, and conducts operations in Gothenburg, Linköping, Karlskrona, Malmö, Trollhättan and Stockholm. In the 1999/2000 financial year, the Group's sales totalled just over SEK 36m and operating profit was SEK 7.8m. The Group's sales increased by nearly 70 per cent over 1998/1999 and are expected to rise at the same rate in the current year. The DataVis Group, with just over 230 employees, operates in five business areas: Systems Development and Internet Services, Business Systems, Technology and Operation, Training, and Products. The Group has been well established in northern Sweden for some time and has also expanded in southern Sweden in recent years. Internet operations, conducted within the subsidiary O2, opened an office in Copenhagen during the year. The acquisition of Systemintegration is being financed with newly issued shares in DataVis and through a cash payment. The total value of this deal amounts to approximately SEK 90m. In addition, the sellers are entitled to an additional purchase price based on results for the current year. Any additional purchase price will be paid in cash. Ideal partner Systemintegration's founders and principal owners, Mats Hansen and Johan Örtenblad, will remain in their present positions and be members of the DataVis Group's management group. "We see DataVis as an ideal partner since we complement each other both geographically and in terms of competence," says Johan Örtenblad. "This merger will give us even greater opportunities to meet our customers' growing demands for qualified consulting services." The acquisition of Systemintegration represents a first step in the growth strategy adopted by DataVis at the beginning of 2000. Over the next few years the Group is expected to continue to grow both organically and through further acquisitions. Focus on telecom In connection with the acquisition of Systemintegration, DataVis' management group will be enlarged. A new member of the management group will be Sven Lundmark (currently president of DataVis Teknik och Strategi AB in Stockholm) who has been appointed acting CEO. In the future, the former CEO, Gert Söderberg, will serve as an executive director with a special focus on acquisitions and various development and strategic projects. "The merger with Systemintegration brings DataVis over 50 additional qualified consultants. Furthermore, we enter a new operating area with a focus on the strategically important telecom sector," says Sven Lundmark. "The fact that an integration of the two companies gives us a wider geographic coverage is an advantage for all our customers whose operations are located throughout Sweden." In January 2000, Ratos AB invested SEK 250m in DataVis. The intention behind this investment was to develop DataVis into a nationwide total supplier of IT services in partnership with other owners and management. The aim is to list the DataVis Group within two to three years. Further information: Sven Lundmark, acting CEO, DataVis, +46-709 95 10 60 Johan Örtenblad, CEO, Systemintegration, +46-705 75 50 77 Anna-Karin Eliasson, Head of Corporate Communications, Ratos, +46-70 399 62 39 www.datavis.se www.sysint.se www.ratos.se Ratos, one of Sweden´s oldest and largest private equity companies, is listed on the OM Stockholm Exchange. Ratos´ business concept is to maximize shareholder value through the professional and responsible management of its investments, including an active involvement in the governance of its portfolio companies. The net asset value of Ratos´ investments exceeds SEK 10bn. The company´s current holdings include: ACE, Camfil, Capona, Dahl, DataVis, Esselte, Scandic Hotels, Superfos, Telelogic and Telia Overseas. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/06/15/20000615BIT00200/bit0001.doc http://www.bit.se/bitonline/2000/06/15/20000615BIT00200/bit0002.pdf