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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 http://www.m2.com

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.

((Comments on this story may be sent to tww.feedback@m2.com))

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Publication:Telecomworldwire
Date:Jul 10, 2003
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