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Visma Software ASA acquires majority stake in Client System AS.

TELECOMWORLDWIRE-10 July 2003-Visma Software ASA acquires majority stake in Client System AS(C)1994-2003 M2 COMMUNICATIONS LTD

Visma Software ASA, a subsidiary of Norwegian financial services outsourcing and software group Visma ASA, has acquired a 50.4% holding in Client System AS.

According to Visma, Client System is a leading Nordic developer and supplier of touch-screen point-of-sale solutions. For the year 2003 Client System is expected to report revenue of NOK56m with an EBITDA margin in excess of 10%.

Visma Software paid Intentia Vinstandelsstiftelse NOK9m for the stake in Client System. The company has the option to acquire the remaining shares between 2005 and 2007.

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Date:Jul 10, 2003
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