Bure Sees Strong Potential in Teleca/AU-System - Acquires 16 Percent of the Shares.Business Editors GOTHENBURG, Sweden--(BUSINESS WIRE)--Dec. 10, 2001 Bure acquires 16 percent of the shares and becomes, together with Dan Olofsson, the largest shareholder of the new company created through the merger of Teleca and AU-System, a transaction announced earlier today. With a turnover of 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. 2.2 billion and more than 2,000 employees, the new Group will become the leading provider of advanced services for software development in Northern Europe. Bure's acquisition of shares from Teleca's main shareholder Dan Olofsson is conditional upon the acceptance and implementation of Teleca's share offer for AU-System. "Bure's business objective is to invest in knowledge-intensive service companies and as a proactive owner develop companies and sector structures. We have long experience from building companies within advanced IT services and with this investment, we see an opportunity to take an active part in building a leading consulting company Noun 1. consulting company - a firm of experts providing professional advice to an organization for a fee consulting firm business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a focused on advanced technology and software development. The new Teleca Group has a very strong international position in a sector that is entering a new phase of demand-driven growth and consolidation," says Peter Sandberg, 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. of Bure. "Teleca and AU-System together form a very strong entity, which combines extensive knowledge with a broad international presence as a platform for further expansion. With this investment Bure will take part in the development of this potential as an active owner," says Peter Sandberg. "We see very interesting opportunities arising from the merger, since the two companies complement each other to such a large extent," says Dan Olofsson, Chairman of the merged Group. The transaction also means that we strengthen and broaden the company's ownership base, and with Bure we get another engaged and long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. owner. Bure contributes with both financial and industrial competence, to the benefit of the business." Teleca has more than 1,200 employees and develops advanced software engineering services for technology companies, service providers and IT users within consumer electronics, telecom, the automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. and the medtech industry. Teleca has subsidiaries in ten European countries and more than 40 percent of sales emanates from operations outside Sweden. AU-System is a leading mobile Internet Refers to gaining access to the Internet using a lightweight, handheld device. See Mobile IP, PDA, smartphone and mobile TV. consultancy. As an example, AU-System recently signed an outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. agreement with Ericsson Mobile Communication, which means that AU-System will be responsible for software development regarding synchronisation Noun 1. synchronisation - the relation that exists when things occur at the same time; "the drug produces an increased synchrony of the brain waves" synchroneity, synchronicity, synchronism, synchronization, synchronizing, synchrony and configuration of mobile phones. AU-System employs about 1,000 people located in Sweden, United Kingdom, Italy, United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Thailand and Singapore. Bure acquires the shares through the purchase of a company. The payment is submitted in three separate instalments, at the time of the closing as well as after 12 and 24 months respectively, based on the share price development. Bure Equity AB (publ) Bure is a leading private equity company in Sweden. Its business objective is to become a proactive owner in knowledge-intensive service companies with potential to become market leaders within their sectors. By investing capital, knowledge and experience, and providing access to our entire network, we develop companies and restructure whole sectors. Bure helps the companies to grow strong and remains a proactive owner until they have achieved leading positions. During the past year, we floated the healthcare company Capio and the IT integrator (1) In electronics, a device that combines an input with a variable, such as time, and provides an analog output; for example, a watt-hour meter. (2) See systems integrator. Dimension on the stock market. Bure has its base in Sweden but our and our companies' perspective is international. www.bure.se Note to Editors: This press release is also accessible online at www.Waymaker.net. |
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