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27.09.1999 Visma acquires ErgosoftVisma Business ASA has entered into an agreement to acquire 100% of the shares in Ergosoft AS, a wholly owned subsidiary of Agresso Group ASA. Ergosoft AS supplies financial systems to small and medium-sized enterprises. The company has 33 employees, and expects sales of NOK 37 million in 1999. The company has 2500 customers in Norway, and most of them have fixed maintenance agreements. Visma will pay NOK 42.5 million for Ergosoft AS as a cash settlement. The final implementation of the agreement is conditional on satisfactory due-diligence results.The managing director of Visma Business ASA, Bj�rn Ingier, states: �Ergosoft�s business is very similar to our own, and to a large extent they work with the same type of customer. The acquisition of Ergosoft will bring the number of customers in the Visma Business division to more than 14,000. This buttresses Visma�s position as the leading Norwegian supplier of financial systems to small and medium-sized enterprises. Visma will maintain and develop Ergosoft, but dealers and customers will also be offered upgrades to the Visma Business family of products.� The CEO of Visma ASA, �ystein Moan, states: �With the acquisition of Ergosoft, Visma is contributing to consolidation in the Norwegian IT industry, and reinforcing its position as an independent and strong Norwegian software company.� For further information, please contact: �ystein Moan, CEO, Visma ASA, telephone +47 23 13 65 00 Bj�rn Ingier, Managing Director, Visma Business ASA, telephone +47 66 77 65 00 |