ErgoGroup buys SYSteam
Norway Post-owned ErgoGroup has today signed a contract to buy more than 90% of the shares in SYSteam's operations in Sweden, Norway, Finland and Denmark. The remaining shareholders will receive an offer to sell their shares in the company to ErgoGroup. The total purchase price will be MSEK 1,100
This acquisition complements and strengthens Norway Post's ICT operations and ErgoGroup's IT services for SME customers in the Nordic region. SYSteam's and ErgoGroup's products and services fit well together and complement each other geographically speaking. SYSteam is the biggest IT company in Sweden's SME market and the combined SYSteam/ErgoGroup will be a clear market leader as an IT service provider to the Nordic SME market.
SYSteam is owned by Bure Equity AS, which holds 46.2% of the shares, and by three founders (Arne Nilsson, Claes Rosengren and Stig-Olof Simonsson) who hold a total of 43.8% of the shares. The approximately 350 employees own the remaining 10%. Following negotiations with SYSteam's main shareholders, ErgoGroup has bought more than 90% of the shares and hereby announces that it will make the mandatory offer to buy the remaining shares in the company. ErgoGroup thus wishes to acquire all of SYSteam's operations in Sweden, Norway, Finland and Denmark with effect from 1 January 2007. The value of this transaction is MSEK 1,100.
The operations that are now being taken over by ErgoGroup comprise a portfolio of around 3,800 customers, are expected to achieve revenues of MSEK 1,400 in 2006 and have around 1,030 employees in around 50 offices in the Nordic region.
"This acquisition is based on Norway Post's main strategy for the ICT segment, including the prioritisation of markets with growth opportunities. Due to the competitive situation and our own strengths, the SME market in Sweden is a prioritised target area outside Norway," says Norway Post's CEO Dag Mejdell.
"The acquisition of SYSteam is an important part of ErgoGroup's aggressive commitment to being no. 1 in the Nordic region's SME market for ICT operations and solutions. ErgoGroup's and SYSteam's operations complement each other well and this acquisition strengthens ErgoGroup as a turnkey provider in the Nordic market. The coordination of solutions and sectors and development of new service concepts give us an opportunity to further address our customers' needs for greater efficiency, higher earnings and an improved reputation," says Terje Mjøs, ErgoGroup's CEO.
"The decision to sell the SYSteam operations is part of our development plans. I'm sure we've found a good solution for our owners, customers and employees. This contract is a good industrial solution for both companies and allows us to strengthen our position and focus on our core expertise," says Niclas Ekblad, CEO of SYSteam.
The contract is subject to the approval of the competition authorities in Norway and Sweden.
For further information, please contact:
Terje Mjøs, CEO of ErgoGroup AS, mobile phone: + 47 900 34 159
Hilde M. Solegaard, Information Director, ErgoGroup AS, mobile phone: + 47 950 21 302
Elisabeth Gjølme, Director of Corporate Communications, Norway Post, mobile phone: +47 901 40 449
Niclas Ekblad, CEO of SYSteam AB, mobile phone: + 46 705 61 89 76
All local press releases published by SYSteam and ErgoGroup are also published on www.systeam.se and www.ergogroup.no
About Norway Post and ErgoGroup
Norway Post is one of Norway's biggest companies, with operations nationwide. It achieved revenues of NOK 20 billion in 2005 and employs just over 22,000 full-time equivalents. Norway Post's ambition is to develop into a leading, Norwegian-based communications and logistics company in the Nordic region. It consists of the following segments: post, express, logistics and ICT.
Norway Post's ICT segment consists of its subsidiary, ErgoGroup AS, which is one of Norway's leading IT companies. ErgoGroup achieved revenues of NOK 2.8 billion in 2005 and has approx. 1,600 employees. In 2006, it is expected to achieve revenues of just over NOK 3.5 billion and to have around 2,000 employees at the year-end.
ErgoGroup provides IT operations/solutions services, as well as associated consulting services. The company tries to see the overall picture and help to solve IT challenges. For more than 30 years, ErgoGroup has simplified everyday life for its customers so that they can concentrate on their core activities and reach their goals. ErgoGroup's solutions aim to ensure greater efficiency, higher earnings and an improved reputation for ErgoGroup's customers – 365 days a year, 24 hours a day.
Read more at http://www.posten.no and http://www.ergogroup.no
About SYSteam
SYSteam is a strategic turnkey supplier in the field of IT, and offers management, engineering, business solution, system development/integration, technical infrastructure and operations services. SYSteam is both a turnkey supplier for small and medium-sized enterprises and a specialist for larger companies and selected industries. This specialist knowledge is also offered to the SME segment. In-depth insight into its customers' operations and processes together with extensive information technology know-how mean that SYSteam can provide commercial benefits. SYSteam has offices and subsidiaries in more than 50 locations in the Nordic region and has approximately 1,000 employees.
Read more at http://www.systeam.se
