STOCKHOLM, Sweden, Jan. 7, 2004 (PRIMEZONE) -- In 2000, WM-data, If, Skandia and Telia Sonera formed a jointly owned company for the outsourcing of business-support services. The company conducts its operations under the name INgroup. The long-term ambition of the current owners of INgroup has been to find a new owner to further develop the company's business. INgroup's operations do not constitute part of the core business of the current owners. In Manpower, the joint parties have found a strategic long-term owner and, as described in today's press release, Manpower will now acquire all of the shares in INgroup. Subject to the approval of the competition authorities, the formal takeover is expected to be completed at the end of February 2004.
The current owners hold the following ownership interests in INgroup: WM-data 37%, Telia Sonera 37%, If 13% and Skandia 13%.
For WM-data, the divestment will result in a capital loss of about SEK 50 M. This will be reported as an item affecting comparability in the fourth quarter of 2003.
Earlier in 2003, WM-data reported a positive item affecting comparability in an amount of SEK 90 M. This derived from an agreement related to a development project undertaken for the Skattedirektoratet (tax authority) in Norway. During the fourth quarter, a final reconciliation could be made of all parts of this project, whereby it was noted that the positive effect on earnings had risen by SEK 25 M to about SEK 115 M.
Combined, WM-data will thus report items affecting comparability in 2003 in a net positive amount of approximately SEK 65 M.
WM-data was founded in 1969 and is one of the leading IT companies in the Nordic region today. Through a broad offering of design and IT-related services, we create increased efficiency and tangible benefits for our customers. Annual sales amount to approximately SEK 7,000 million, with approx. 6,000 employees. For additional information, visit our website: www.wmdata.se
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