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03.07.2001 Visma Services starts expansion in Sweden.Visma Services ASA, a wholly owned subsidiary of Visma ASA, has entered into an agreement to acquire 70% of the shares in Sigtuna Affersbyrå AB (SA Administrasjon och Løner) for SEK 12.6 million. Settlement will be in the form of shares in Visma ASA. Visma has an option to buy up to 100% of the shares in Sigtuna Affersbyrå during the next three years. For the calendar year of 2001, Sigtuna Affersbyrå expects sales of SEK 14 million, an operating profit of SEK 3.6 million and a profit after tax of SEK 2.6 million. During the past few years, the company's annual growth in sales has been about 40%. The company has 22 employees, and for several years it has worked together with some of the companies in the Visma Services division to serve international customers. With this acquisition, Visma Services is starting the expansion in the Nordic countries that it has announced previously. The objective is to create the largest Nordic supplier of outsourcing services in accounting and payroll functions. Approval by the Board of Directors at Visma ASA is a prerequisite for the agreement. For further information, please contact: Visma ASA, Øystein Moan, CEO, tel. (+47) 6752 5500 mobile (+47) 920 80000 Visma ASA, Tore Bjerkan, Financial Director, tel.: (+47) 6752 5500 mobile: (+47) 982 43000 Sigtuna Affersbyrå, Göran Spång, tel. (+46) 70 790 7484 |