Aarhus, September 28th, 2012, 2012-09-28 09:00 CEST (GLOBE NEWSWIRE) --
Trifork has acquired a 5% ownership of the IT consultancy firm IT Minds ApS. The ownership is obtained by a cash deposit of DKKm 0,1 as an increase in capital from Trifork. Besides this Trifork commits to help with the international development of the company.
IT Minds has undergone considerable growth in the Danish market and now have 54 students as employees equivalent to 21 FTE. Recently a new office has been established in Copenhagen and now the young company is looking at the international market.
In order to strengthen the international development and to create a possible further career path for its employees the company have entered into this close cooperation with Trifork. Simultaneously Trifork becomes a co-owner of the company.
"IT Minds has with its focus on the young talents in the it-business a concept that has proven to be a great demand for in the market. They have experienced substantial growth since the start, and have managed to attract highly talented young fresh employees who have talent and passion for new technologies. Trifork sees great potential in the cooperation with IT Minds – as well in Denmark, as in other countries where we operate. We look forward to contribute to the further development of the company and to give the best of the young talents a possibility for a new career in Trifork when they finish their studies. It’s a great inspiration to see the young leadership in IT Minds work. ", Says Jørn Larsen, CEO, Trifork.
The content of this announcement will have no influence on the previously announced expectations for Trifork in 2012. Trifork expect for 2012 thus a total revenue of DKKm 230 and an EBITDA-result of DKKm 36.
About Trifork
Trifork was founded in 1996 and is listed on NASDAQ OMX in Copenhagen. It is an innovative software development company focusing on Mobile, Agile and Cloud. It develops and delivers business critical IT systems for several sectors including finance, healthcare, government, manufacturing and telecom. Trifork employs 180 people in 8 offices in Aarhus, London, Copenhagen, Zürich, Amsterdam, Krakow, Stockholm and San Francisco. At the end of 2011 Trifork had a market value at almost DKKm 256 / EUR 34M, with a turnover of DKKm 175 / EUR 23M.
About IT Minds
IT Minds is a young IT consultancy consisting of young talents from universities and engineering colleges in Denmark. IT Minds staffing structure means that the company can take care of the tasks that are too small for the large IT consultancies, why IT Minds serves as a complement to the existing providers in the market. IT Minds is already working for several of Denmark's largest companies, including G4S, KMD A/S, Blue Water Shipping A/S and a number of municipalities and public institutions.
Kind regards,
Board of directors, Trifork A/S
Trifork A/S
Margrethepladsen
DK-8000 Århus C, Denmark
CVR-no. 20921897
ISIN DK0060102887
Shortname: TRIFOR
Phone: +45 8732 8787
Fax: +45 8732 8788
Contact:
CEO, Jørn Larsen
Direct: +41 79 430 9697
E-mail: jla@trifork.com