Atle Acquires 10% of Addsystems AB.Business Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--Jan. 15, 2001 Atle -- Atle Ventures is acquiring 10% of software developer Addsystems, a transaction effected through a private placement totalling SEK 5 m. -- Addsystems develops and markets a www-based total solution for operational development focusing on the environment, QA and working environments. -- Addsystems' product will be launched on 17 January. The capital injection, totalling some SEK 8 m, will be used mainly for a broad-based market launch and the sustained accumulation of sales and support organisational resources. Addsystems develops and markets a www-based total solution for operational development focusing on the environment, QA and working environments. Addsystems' primary market comprises corporations and non-profit organisations in Sweden, the rest of Scandinavia, the UK and Germany, which are pursuing systematic change initiatives in the environmental, QA and working environment spheres. Using Addsystems' product, customers can slash the costs and time necessary to secure ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. certification as avidence of a quality-assured management system. This market is growing by 25% annually. Stockholm-based Addsystems was incorporated in February 2000 by Fredrik Sundstrom and Stefan Nyberg, former environmental consultants. Magnus Ramstrom, Atle Ventures Investment Manager, said: "Addsystems is a good fit with Atle Ventures' investment focus. The enterprise offers a very promising product targeted at an international market in brisk Brisk as a proper name may refer to:
Fredrik Sundstrom, Addsystems CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , also commented: "With Atle as our partner, Addsystems will be able to benefit from its many-sided experience of developing high-growth ventures. Atle's resolute res·o·lute adj. Firm or determined; unwavering. [Middle English, dissolved, dissolute, from Latin resol commitment to Addsystems, combined with stability and a broad-based broad-based Of or relating to an index or average that provides a good representation of the overall market. The S&P 500 and NYSE Composite are generally regarded as broad-based stock indexes, while the popular Dow Jones Industrial Average is biased international network, will comprise vital support on our way to European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. market leadership." Atle- key facts Atle is a growth company that intends to be 2-3 times its current size in 5 years' time. Atle is a private equity player, investing in unlisted companies, participating actively in their development, and after a few years, finding them a suitable new home, thereby realising value growth. Since 1993, the Atle group's earnings have risen progressively, from SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 373 m to SEK 1,025 m in 1999. Atle maintains a brisk transaction tempo tempo [Ital.,=time], in music, the speed of a composition. The composer's intentions as to tempo are conventionally indicated by a set of Italian terms, of which the principal ones are presto (very fast), vivace (lively), allegro (fast), , acquiring over 20 enterprises across all sectors each year. Since inception in 1992, Atle has invested in approximately 200 businesses and exited from over 100. Its annual return from these exits has been nearly 50%. Atle is quoted on the Stockholm Stock Exchange's A List and has approximately 17,000 shareholders. Atle Ventures- key facts Atle Ventures is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Atle Foretagskapital, one of the investment corporations that comprise the Atle group. Atle Ventures invests in IT and other technology start-ups, making maximum initial investments in each specific venture of SEK 5 m. Atle Ventures currently has six investments in enterprises in early developmental phases. Atle AB, which will own these investments entirely, intends to invest a further SEK 200 m in some 20 growth enterprises over 3-4 years. ---------- This information was brought to you by BIT http://www.bit.se The following files are available for download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. : http://www.bit.se/bitonline/2001/01/15/20010115BIT00380/bit0001.doc http://www.bit.se/bitonline/2001/01/15/20010115BIT00380/bit0002.pdf |
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