Adcore continues international expansion -Adcore starting up in Japan and Switzerland

The Japanese start-up is the first outside Europe, and an element in Adcore's internationalization strategy and positioning as pre-eminent digital business creators on the world's most attractive markets. The intention is to achieve robust growth, to 200-300 employees, within two years. A possible future development could be to seek quotation on the Tokyo Stock Exchange

The Japanese enterprise is a joint venture between Adcore AB, and the two Tokyo-based companies Lightyear and CTR Ventures. Initially, Adcore will invest USD 3 m by acquiring 49% of the shares in Lightyear K.K. to become Adcore K.K. Venture capitalist CTR Ventures K.K. will own 4%. Adcore holds an option to increase its ownership to 51%. Further external investors may be added.

Adcore is investing competencies and funds into the project, will make a major contribution to the management and shift skilled and experienced professionals within the group. Lightyear will bring extremely skilled Japanese and US professionals, and blue chip clients. CTR Ventures K.K., a venture capital and corporate development player, will be a partner in this new enterprise, and participate in the development.

Overall, this will get Adcore Japan off to a flying start with immediate access to premises, clients, infrastructure, projects, an enviable Japanese contact network and lengthy experience of doing business in the country.

Japan is the world's second largest market, and is also an extremely promising mobile Internet arena, as well as broadband mobile internet. Adcore's Japanese branch will be a key centre of excellence and a secure foothold for continued Asian expansion. There are 20 million people online in Japan, with a further 6.5 million ketai (I-mode) Internet users. I-mode-Japanese mobile telco Docomo's mobile Internet services portal-has made a massive breakthrough, is a key driver of progress and major contributor to Adcore's move into Japan.

Göran Wågström, Adcore's CEO and President said: "We regard Japan as exceptionally promising in a number of contexts: as a marketplace populated by global leading corporates, an attractive stock market, a centre of excellence in spheres such as wireless Internet and as a starting-block for the creation of digital business and relations with our Asian clients. Japan is now going all out to catch up with the US in digital technology, paving the way for Adcore as strategic total concept providers and major digital business creators."

David Gabrielson, President and Founder of Lightyear K.K. said "we're very excited about joining forces with one of the world's leading Internet consulting firms. I believe that the proliferation of the Internet can have a more significant impact on business in Japan than in any other developed country. This new partnership will put us in a strong position to help our clients identify and capitalize on the opportunities being created by the emerging digital economy."

Opening Swiss branch
Adcore's Swiss activities will be targeted on banking and finance, where Adcore harbors major international competencies, and has already secured a series of assignments.

"Around 30 Adcore professionals are currently active on projects in Zurich and are experiencing very robust demand for in-depth sector of skills, strategic competencies and the ability to implement critical business solutions. We're currently recruiting a CEO for our Zurich branch, and perceive major potential on German-speaking markets," reports Göran Wågström.

Adcore has a full-range offering for German-speaking markets and subsequent to the acquisition of Germany's berens/partner, has broad-based operations and branches in Dusseldorf, Zurich, Stuttgart and Hanover. Start-ups in Frankfurt, Berlin and Munich are at the top of the agenda.

Stockholm, 20 June 2000
Adcore AB (publ)