QBRANCH SIGNS HOSTING AGREEMENT WITH LYCOS SPRAY
NOVESTRA: QBRANCH SIGNS HOSTING AGREEMENT WITH LYCOS SPRAY Qbranch AB which is one of Novestra's strategic holdings (ownership 15%) has signed a hosting agreement for Lycos Spray's Nordic operation centre. Initially, Qbranch will handle the hosting of the Spray's Nordic portals. Later this year, several other European websites will also be handled from Stockholm. "The agreement with Lycos Spray is a further confirmation of Qbranch's successful development. The company shows very high profitability with an annual growth rate of approx. 100%. Our focus on investments within enabling services and technologies has provided a good balance in our portfolio where a majority of holdings either already are cash flow positive or are expected to generate positive cash flow in the near future. Qbranch is an excellent example of a company which provides services both to new and established players and which benefits from the strong growth generated by the development of the network economy," Thomas Åkerman, Novestra's President, says. For further information, please contact Thomas Åkerman, President of AB Novestra, phone No. +46 8 545 017 50. About Novestra AB 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 Stockholmsborsen. For information regarding AB Novestra, please see www.novestra.com . For information regarding Qbranch AB, please see www.qbranch.se . ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/04/27/20010427BIT00940/bit0002.doc http://www.bit.se/bitonline/2001/04/27/20010427BIT00940/bit0002.pdf