Novestra's portfolio company Mobilestop reaches agreement with Ericsson regarding Latin America
NOVESTRA'S PORTFOLIO COMPANY MOBILESTOP REACHES AGREEMENT WITH ERICSSON REGARDING LATIN AMERICA Mobilestop and Ericsson today announce a collaboration agreement regarding Latin America where Mobilestop as an ASP will supply a complete e-commerce solution for Ericsson's Internet based distribution channels to i.a. distributors and retailers for a number of mobile products and services. The collaboration is initially to be launched in Brazil, however Ericsson intends to have similar rollouts in Mexico, Chile and Argentina. Novestra's ownership share in Mobilestop amounts to 7.9% after the exercising of outstanding options. For more information please refer to the attached press release. Mobilestop's platform offers a complete individually designed e-commerce solution where Mobilestop operates a mission critical solution for handling e- commerce, IT-systems, logistics, product sourcing and delivery to end customer. This platform enables Internet sales of mobile phones, accessories, and post and prepaid service plans online, as well as other smart mobile services and content including the ability to download ring tones, cartoons and news feeds. Mobilestop's target group is mobile phone operators, manufacturers, retailers, distributors and Internet based companies that quickly wish to establish a supplementary sales channel on the web. Mobilestop presently has offices in, among other cities, Miami, Seattle, São Paolo and Buenos Aires. "For Mobilestop with its focus on Latin America the agreement with Ericsson is definitely a breakthrough and the agreement is particularly interesting bearing in mind the growth potential within the mobile communications sector in Latin America; for example, the number of mobile phones in Brazil are expected to increase by 400% by 2003, from the present 13 million to 48 million," Novestra's President and COO, Thomas Åkerman says. For further information please contact Thomas Åkerman, President and COO, AB Novestra (phone No. +46 8 545 017 50), or Jaimee Vetter, pr.com, (desk phone +1 425 828 4815, mobile phone. +1 206 390 6637 or jaimee@prdot.com ). For more information regarding the companies, please see www.novestra.com or www.mobilestop.com . Novestra is one of the leading venture capital investment firms in the Nordic countries, primarily with a focus on companies providing enabling services to the network economy. Novestra's portfolio of companies includes B2 Bredband AB, Comintell AB, Continuum Group Ltd, Fanglobe Inc, Iquity Systems Inc, Mobilestop Inc, Netsurvey AB, PowerNet AB and Qbranch AB. Novestra's shares are listed on the O-List of the OM Stockholm Exchange. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/10/02/20001002BIT01140/bit0001.doc appendix http://www.bit.se/bitonline/2000/10/02/20001002BIT01140/bit0002.doc http://www.bit.se/bitonline/2000/10/02/20001002BIT01140/bit0003.pdf