STOCKHOLM, Sweden, Oct. 29, 2003 (PRIMEZONE) -- The Board of Directors of WM-data AB (publ) (Other OTC:WMDTF) ("WM-data"), listed on the Stockholm Exchange, has resolved to make a public tender offer (the "Tender Offer") to acquire all the issued and outstanding shares in Novo Group Oyj ("Novo Group"), a company incorporated in Finland and listed on the Helsinki Exchange.
Industrial rationale
-- Leading pan-Nordic IT-services group
-- the combination of WM-data and Novo Group creates a leading pan-
Nordic IT services group
-- the combined group will have revenues of approximately EUR 1.1
billion and 8,300 employees
-- total market cap of approximately EUR 700 million
-- Major industrial benefits
-- complementary geography and customer segments
-- enhanced ability to serve Nordic companies and organisations across
the region
-- leading Finnish market position with strong local presence and a
competitive offering encompassing software solutions, system
integration, vertical industry skills and outsourcing services
-- revenue synergies through cross selling and cost savings through
operational consolidation
-- Cost savings and revenue synergies
-- annual cost savings of at least EUR 6 million with full effect from
2005
-- substantial revenue synergies are expected
Offer in brief
-- The consideration offered by WM-data to the Novo Group
shareholders in the Tender Offer is alternatively:
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The complete press release is available for download:
http://www.waymaker.net/bitonline/2003/10/29/20031029BIT00200/wkr0001.doc
http://www.waymaker.net/bitonline/2003/10/29/20031029BIT00200/wkr0002.pdf