TietoEnator sells stake in AerotechTelub to Saab

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TietoEnator sells stake in AerotechTelub to Saab TietoEnator Corporation has decided to exercise the option clause in the agreement earlier signed with Celsius, regarding the purchase of shares in the company AerotechTelub. Saab AB, the majority holder of AerotechTelub will acquire the 43% holding of TietoEnator. AerotechTelub will after the purchase become a fully owned subsidiary of Saab. The purchase price is set to 115 MEUR. The agreement is subject to approval by the Swedish competition authorities. AerotechTelub has 2,600 employees and a turnover of ca SEK 2.4 billion. It is a company which offers advanced technical services, maintenance and customer-adapted system solutions within information technology, electronics and vessel technology for the military and civil defence, government departments, public authorities as well as selected sectors of trade and industry. The company was formed in 1999 through a merger between Celsius Aerotech (Now Saab) and the defence activities of TietoEnator in the subsidiary Telub. -AerotechTelub is a services company with a strong market position and the services offered are important parts of our core businesses. Saab already was the majority owner but the fact that we now acquire all the shares, increase our possibilities to create further co-operation and synergies within the Saab group, says Bengt Halse, President and CEO of Saab. - Regarding the parts of AerotechTelub's activities that demand a more independent role, there will be no changes in that aspect, continues Bengt Halse. - TietoEnator strongly focuses on the industry segments banking and finance, telecom and media, the public sector and the energy and forest sectors. The divestment of AerotecTelub with it´s activities related to the defence sector, is to be regarded as a natural step in the concentration on core businesses. We are glad to see that the company now will get an owner that has the defence sector as one of its core businesses. We are convinced that the change in ownership will contribute to a positive development of AerotechTelub, says Åke Plyhm, deputy CEO of TietoEnator Corporation. As a result of the transaction TietoEnator will get an estimated capital gain before taxes of 97 MEUR and after taxes of 87 MEUR with a positive net cash effect of 105 MEUR during the coming half year. For further information, please contact: TietoEnator: Åke Plyhm, Senior Executive Vice President, TietoEnator, +46 70 565 86 31 Eric Österberg, Senior Vice President Corporate Communications, TietoEnator, +46 8 632 14 26, 070-590 05 99 Saab: Jan Nygren, Group Senior Vice President, Saab, +46 13 18 19 99 Bertil Ullergren, Director of Communications, AerotechTelub, +46 470 422 42, +46 706 21 10 28 Anders Stålhammar, Press Secretary, Saab, +46 13 18 71 75 With a staff of 10,000 and an annual turnover of 1.1 billion euros, TietoEnator is a leading supplier of high value-added IT services in Europe. TietoEnator provides consulting, systems development and integration, operation and support, product development services for customers, and software services. The Group has in-depth knowledge of its customers' businesses in areas such as telecommunications, finance, the public sector and the forest and energy industries. Saab is one of the world's leading high-technology companies, with its main operations focusing on defence, aviation and space. The group covers a broad spectrum of competence and capability in systems integration. TIETOENATOR CORPORATION DISTRIBUTION Helsinki Exchanges Stockholm Stock Exchange Principal Media ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/09/07/20010907BIT00410/bit0001.doc http://www.waymaker.net/bitonline/2001/09/07/20010907BIT00410/bit0002.pdf