Novestra invests MSEK 14 in u.s. based mobile communication company, Strax Holding Inc. in connection with the transacti
NOVESTRA INVESTS MSEK 14 IN U.S. BASED MOBILE COMMUNICATION COMPANY, STRAX HOLDING INC. IN CONNECTION WITH THE TRANSACTION STRAX HOLDING INC. ACQUIRES NOVESTRA'S SHARES IN MOBILESTOP INC. Strax Holding Inc., the larger shareholder in Mobilestop Inc., has made an offer to acquire all outstanding shares in Mobilestop and merge the operations into Strax. In connection with this transaction, Novestra was given an opportunity to invest in Strax. The transactions will give Novestra an aggregate ownership of approx. 7.6 percent in Strax. Further information about the transaction will be presented in connection with Novestra's quarterly report on January 31, 2001. "Strax has shown a remarkable growth since the foundation three years ago and it has managed to remain profitable in spite of significant investments in product development during the past year. Strax had sales of approximately MSEK 220 during 2000 and the merged company is expected to grow by more than 150 percent and reach sales exceeding MSEK 500 during 2001," says Theodor Dalenson, Chairman of Novestra, who will join the Strax Board of Directors. "We are pleased with the investments made by Novestra and Titan Holding Inc. and we believe that Strax will benefit from additional management competence, products, customer relations and contracts developed by Mobilestop and accessed through this acquisition. We are also pleased with the fact that Theodor Dalenson, Chairman of Novestra, and Skuli Mogensen, Chairman of OZ.COM and Titan Holdings, are joining our Board of Directors," says Ingvi Tomasson, Chief Executive Officer of Strax Holding. FOR FURTHER INFORMATION, PLEASE CONTACT Mr Ingvi Tomasson, Chief Executive Officer, Strax Holding Inc. Phone: +1 305 468-1771 E-mail: itt@strax.com Mr Thomas Åkerman, President, AB Novestra. Phone: +46 8 545 017 50 E-mail: akerman@novestra.com About Strax Strax Holding Inc. is a three year old company based in Miami, USA. The company is a producer and distributor of mobile equipment and accessories. Strax operates out of offices in Miami, São Paulo, Hong Kong and London. Strax aims at becoming one of the leading suppliers of product and services for the mobile communications industry. For more information regarding Strax Holding Inc., please see www.strax.com About Novestra Novestra is one of the leading independent venture capital investment companies in the Nordic region with focus on companies providing enabling services and technologies for the communications industry. Novestra's portfolio of companies includes B2 Bredband AB, Comintell Holding AB, Continuum Group Ltd, Fanglobe Inc, Iquity Systems Inc, Multilet AB, Netsurvey AB, PowerNet AB and Qbranch AB. Novestra's shares are listed on the O-List of the OM Stockholm Exchange. For information regarding AB Novestra, please see www.novestra.com ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/01/30/20010130BIT00250/bit0001.doc http://www.bit.se/bitonline/2001/01/30/20010130BIT00250/bit0002.pdf