SOL - Acquisition of Netlogin in Denmark

SOL - Acquisition of Netlogin in Denmark Scandinavia Online AB ("SOL") (OMSE:SCOL; OSE:SCO) has entered into an agreement to acquire Netlogin Aps ("Netlogin"). Netlogin is the largest link guide in Denmark with approximately 145,000 weekly unique users in September 2000 (Source:Gallup). According to the agreement, SOL will issue 440,000 shares as full consideration for all outstanding shares in Netlogin. The acquisition of Netlogin will strengthen SOL's position as the second largest portal in Denmark and the leading portal network in the Nordic region. Following the acquisition, SOL will have approximately 475,000 weekly unique users in Denmark. The integration of Netlogin in SOL's portal offering will add fast and easy access to Internet services within eleven different categories. "Through acquiring Netlogin, we will be able to offer the SOL users access to the best and most updated sites in Denmark", says Managing Director of SOL Denmark Lars Folkmann. "The service provided by Netlogin is of very high quality, and the acquisition also adds to our advertising inventory in Denmark", Mr. Folkmann continues. "I am convinced that we will be able to develop our services even further as part of SOL", says Netlogin's Managing Director Erik Bak, who will continue his services within the company. "I am very pleased to become a part of the leading Nordic portal network. This is very good for all Netlogin and SOL users", Mr Bak continues. "Scandinavia Online aims to be a leader in all markets where we are present. This acquisition brings us another step closer to that objective with regards to Denmark. We will look for further opportunities to strengthen our market positions in all Nordic markets, but especially in Denmark and Finland, where we are not yet the most popular portal network", says Birger Steen, CEO of SOL. The agreement is subject to final due diligence and SOL Board approval and Netlogin is expected to be consolidated in the SOL financial statements as from November 1, 2000. The share issue will be decided by the Board of Directors based on the resolution by the Extraordinary General Meeting on July 25, 2000, to authorize the Board of Directors to decide on issues of up to 4,000,000 shares with deviation from the shareholders' preemptive rights. For more information, please contact: Lars Folkmann (MD, SOL Denmark), +45 22 10 98 06, Birger Steen (CEO, SOL), +46 709 35 28 18, Erik Bak, (MD, Netlogin) +45 33 11 40 01, ------------------------------------------------------------ This information was brought to you by BIT The following files are available for download: