Bertil Sahlberg appointed President of TurnIT Development AB
Bertil Sahlberg appointed President of TurnIT Development AB Bertil Sahlberg has been appointed President of TurnIT Development, and he will take up his duties at the latest on 1 July 2000. Bertil Sahlberg's previous post was as Consultancy Manager at Hyperion Solutions Nordic AB. Formerly, he worked as an authorized public accountant, and as Controller and Finance Manager in a number of companies. "The recruitment of Bertil Sahlberg is a further step in the plans to float TurnIT Development at some point in the future", comments Peter Enström. TurnIT Development's business idea is to invest in companies in the IT sector which are at an early stage of development. Up to 10 percent of the Group's equity has been invested through TurnIT Development in project companies and young companies with major potential. This is short to medium term investment, and may, for example, involve portal companies or software companies in which TurnIT Development's long-term participation rights should not exceed 20 percent. It may also involve IT companies which are on the threshold of flotation. TurnIT's intends after the flotation to own 40% of TurnIT Development. TurnIT is one of the larger Swedish IT groups listed on the OM Stockholm Stock Exchange's O list. TurnIT has over 900 employees, and is currently valued at SEK 3,000 million. Its business idea is to act as an IT partner, and, through the acquisition of companies in different areas of the IT market, to offer a share lower in risk than the average for IT shares in general. In addition to TurnIT Development, the Group's operations are divided over five business areas; Consulting, Software, Communication, Outsourcing and Supplies. Stockholm 23 May 2000 TurnIT TurnIT's Information Director, Rickard Linderoth, will be pleased to answer any questions. Tel: + 46 (0)8 545 877 45, mobile: + 46 (0)7 09-65 02 98, as will TurnIT's President, Peter Enström Tel: + 46 (0)8 545 877 30. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/05/23/20000726BIT00590/bit0001.doc http://www.bit.se/bitonline/2000/05/23/20000726BIT00590/bit0002.pdf