TurnIT sells TriData and becomes a partner in DCM, Digital Communication Media AB
TurnIT sells TriData and becomes a partner in DCM, Digital Communication Media AB TurnIT has concluded a provisional agreement today on the sale of all shares in TriData Sverige AB in exchange for 7 percent of the shares in DCM, Digital Communication Media AB. DCM plans to float its shares this year. According to the accounts for 1998, sales were SEK 231 million, and earnings before tax, financial expense and depreciation (EBITDA) amounted to SEK 53 million. Depreciation was SEK 27 million, of which SEK 2 million represents goodwill. "The sale of TriData to DCM is an excellent deal from a business point of view. The companies complement each other well, and our participation in DCM will enable us to keep abreast of developments in new storage media such as DVD, as well as various forms of digital distribution via the Internet", comments TurnIT's President, Peter Enström. "We are very interested in DCM's continued growth and their planned flotation. This is an exciting first stage in the development of our ownership strategy, and our holding of 7 percent of DCM will be held through our subsidiary, TurnIT Development", continues Peter Enström. Johan Ahlgren, President of DCM, says in his comments that "TriData complements us well, with its clear presence in Southern Sweden added to the width of our product portfolio in digital media". TriData works with storage media and the duplication of storage media, principally in the form of diskettes, CD-R and CD-ROM. TriData supplies blank media, as well as complete solutions in which the company handles the duplication of media and the packaging and distribution of the finished product to the customer. The company's clients are primarily in the software industry, but are also in other fields with a requirement to distribute digital information. DCM's business idea is to package and distribute digital information to clients who work with text, sound, pictures, video, film and data. The company works with several new types of storage media, including DVD and a hybrid of Internet and CD-R technologies. The company is developing a system for the distribution of compressed music and data files via the Internet. DCM has subsidiaries in Scandinavia and the UK. Its clients are in the music, media, software and multimedia industries, and in the producer goods industry. TurnIT AB the Board of Directors Peter Enström, President, TurnIT AB, tel + 46 (0)8 545 877 47, mobile + 46 (0)705 74 99 82 Johan Ahlgren, President, DCM AB, tel + 46 (0)8477 20 21, mobile + 46 (0)70 655 20 21 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/01/31/20000726BIT00430/bit0001.doc http://www.bit.se/bitonline/2000/01/31/20000726BIT00430/bit0002.pdf