Visma buys 50.2% of the shares in Økonomisjefen AS.

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25.01.2001

Visma buys 50.2% of the shares in Økonomisjefen AS.

Visma Services ASA, a wholly owned subsidiary of Visma ASA, has entered into an agreement to acquire 50.2% of the shares in Økonomisjefen AS. Visma will buy shares for NOK 2.2 million, while Økonomisjefen will arrange a private placement with Visma for NOK 1.9 million.

The cash payment for the shares will be settled through shares in Visma ASA.

Økonomisjefen is headquartered in Drammen, with divisional offices in Kongsberg, Gol and Oslo. The company provides both accounting services and outsourcing of financial functions.

Økonomisjefen AS anticipates sales of NOK 12 million for 2001, with an operating profit of NOK 1 million.

Visma ASA has an option to buy up to 100% of the shares in Økonomisjefen by the end of the first quarter of 2004.

Økonomisjefen will form part of Visma’s new division for outsourcing of business processes in accounting and finance.

The acquisition is conditional on successful completion of due diligence and approval by the Board of Directors of Visma ASA.

For further information, please contact:
Øystein Moan, CEO,
Visma ASA,
(+47) 67 52 55 00,
mobile (+47) 920 80000