The sale is not expected to give any result or equity effect for Ementor. Ementor and EDB has also entered into certain commercial agreements which secures Ementor’s access to necessary resources from Avenir, and which provides for administrative support services in the transfer period.
Avenir was established as a separate unit from 20 October 2005, and the unit is now transferred to EDB with effect from 1 January 2006. In EDB, Avenir will continue as a subsidiary.
Avenir has 241 employees in Oslo and Bergen and had revenues of MNOK 160 the first nine months of 2005.
The agreement does not include consultants within the infrastructure area or consulting activities in Ementor Denmark.
”The sale of Avenir signals the end of a comprehensive restructuring process in Ementor Norway. I am convinced that we have found a good solution for our owners, customers and employees. This agreement gives us the opportunity to strengthen our financial position and to increase focus on our core business”, says Jo Lunder, CEO in Ementor ASA.
”With the acquisition of Avenir, EDB is dedicatedly entering the Norwegian and Nordic market for application services. We have a great belief in the development of this market during the years to come. EDB already has significant competency within application development and application operations. Avenir with their business will give EDB a new and important link in the value chain”, says CEO Endre Rangnes in EDB Business Partner ASA.
The agreement is subject to the approval of the Norwegian competition authorities.
For further information, please contact:
Jo Lunder, CEO Ementor ASA, mobile + 47 900 80 842
Rune Falstad, CFO Ementor ASA, mobile +47 906 14 482
Karine Mathiesen, Communication Director, Ementor ASA,
mobile +47 916 26 166
Endre Rangnes, CEO EDB Business Partner ASA,
tel +47 22 77 21 02
Geir Remman, VP Corporate Communications EDB Business Partner ASA,
mob +47 97 05 50 17