STOCKHOLM, Sweden, Feb. 5, 2002 (PRIMEZONE) - Cyber Com Consulting Group:
Stratum Project Management is a consulting company primarily operating within the banking, finance, and telecoms sector. Its customers include blue-chip organizations such as Reuters, The Royal Bank of Scotland, Coutts, LIFFE, Kleinwort Benson and Cable & Wireless, amongst others.
Stratum was launched in 1995; today it has 22 employees. The company is profitable; for the period 1 April 2000 - 31 March 2001 it reported sales of GBP 2.5 million and income of GBP 0.86 million (before taxes) in its financial statement. Preliminary report for the nine month period 1 April 2001 to 31 December 2001 Stratum indicates sales of GBP 2.6 million and income of GBP 0.85 million (before taxes). Stratum are involved in large scale projects including design, delivery and integration of:
-- financial information and trading systems -- banking platforms and electronic payment systems -- new media and distributed publishing systems
"Our common objective is to be a leading international specialist within the finance and telecoms sectors," says Mats Alders, CEO for Cyber Com. "Together, we can expand our presence in the UK, while becoming more competitive in Scandinavia. Cyber Com will enable Stratum to develop a strong market position within telecoms in the UK. In Sweden, Cyber Com's position within banking and finance can be lifted to a level comparable to Stratum's position in the UK."
"Long-term, intensive negotiations have demonstrated opportunities that are enabled via an operations-based merger," says Alders. "We are now concluding all formalities related to the acquisition. With Stratum, we gain an established sales channel in a market, which for us, is large and full of opportunities. With current pricing and exchange rates, it is also profitable to send Swedish consultants to London."
The purchase sum consists of two parts: a fixed amount and a supplementary purchase sum based on Stratum's profit performance over the period 2002-2004.The company intends to finance the acquisition partly through a new issue of Cyber Com shares, and partly via a swap of Stratum warrants for Cyber Com warrants. The fixed purchase sum is estimated to lead to goodwill of SEK 25 million. The acquisition is expected to have a positive impact on Cyber Com's profit.
Facts Stratum Project Management:
Start 1995
Employees 22
Operation Projects that involve the delivery of
financial information and trading systems,
banking platforms and distributed publishing
systems
Market segment Finance and telecom
Customers Reuters, The Royal Bank of Scotland, Coutts,
LIFFE, Kleinwort Benson and Cable & Wireless
Turnover GBP 2.5 million the period 1 April 2000 to
31 March 2001
Income before tax GBP 0.86 million the period 1 April 2000
to 31 March 2001
Culture Similar to Cyber Com
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