STOCKHOLM, Sweden, January 11, 2002 (PRIMEZONE) -- Frontec is continuing its restructuring process by selling the software companies Frontec Edicom AB, Frontec Maintenance Systems AB, Frontec Denmark A/S, Frontec Maintenance Systems Norge A/S, Frontec Deutschland GmbH, API PRO Nederland BV and Frontec Belgium NV. Together, the companies have around 60 employees and reported a turnover of approximately SEK 60 million in 2001.
EdiCom is one of Sweden's leading software suppliers in the areas of Customs & Transport and Financial EDI, while APIPRO develops and distributes maintenance systems via sales and support offices in Denmark, Sweden, Norway, the Netherlands, Belgium and Germany.
"This is a natural progression in our strategy to become strictly a consulting firm focused on our core businesses," says Per Tjernberg, CEO of Frontec AB. "With Radgivningsgruppen, EdiCom and APIPRO will have an owner whose focus is software, which naturally will benefit their employees as well."
The investment company Radgivningsgruppen's mission to acquire, structure and internationalize software firms. Radgivningsgruppen is owned by Hans Krantz and Fredrik Svedberg. Fredrik Svedberg is one of the founders of Edicom AB, and Hans Krantz has, among other things, been chairman of XOR Group AB and a director of Tribon Solution AB and Appium Technologies AB.
"Radgivningsgruppen intends to further develop EdiCom and APIPRO individually," says Hans Krantz. "The goal for both companies is to develop their product and service concepts with an eye toward becoming leading software suppliers in Europe in their respective niches."
More information, contact: Hans Krantz, Radgivningsgruppen AB, telephone +46 707 775568 Fredrik Svedberg, Radgivningsgruppen AB, telephone +46 709 726912 Per Tjernberg, CEO, Frontec AB, telephone +46 8 733 7505 Lars-Eric Green, Head of Frontec Venture Zone, telephone +46 709 736417
This information was brought to you by Waymaker http://www.waymaker.net