Ementor Sells Non-Core business in Denmark

07.12.2006 - (Denmark) Ementor ASA has entered into agreements for the sale of its remaining non-core business activities in Denmark. The sale is in line with the Ementor Group’s strategy to focus on its core business as the leading Nordic provider of infrastructure products and solutions. The transaction will also optimise the development potential of the divested business areas, i.e. Systems Development and Integration, SAP, and Oracle.
Ementor Denmark A/S has been an independent subsidiary of the Ementor Group since March 2006 when Topnordic merged with Ementor. The subsidiary comprises the Consulting and Solutions unit of the Ementor Group’s Danish business operations, and the divestment transaction involves large parts of the company’s assets.

The Project Supply and Infrastructure Service Operations are well integrated with Topnordic A/S and do not form part of the transaction.

The sale, have an aggregate value of NOK 107 million has been arranged in three separate transactions:

The System Development and Integration business (systems development focusing on SOA solutions and Microsoft’s .NET platform) has been sold to Traen Informationssystemer A/S but will continue operations under the name of Ementor Denmark as an independent subsidiary of the Traen Group. Traen is a privately owned Danish company delivering work-flow management solutions to the public sector. The Systems Development and Integration unit has 85 employees and is expected to generate revenue of more than DKK 80 million in 2006. The transaction is structured as a transfer of business assets for cash consideration.

For the SAP business (SAP Solutions and Application Management), Ementor has entered into an agreement with IBM Danmark A/S. The SAP department has 38 employees and is expected to generate revenue of more than DKK 60 million in 2006. The transaction is structured as a transfer of employees. In addition, IBM and Ementor have established a service provider agreement covering all client services.

The Oracle division (Oracle Solutions and Application Management) has been sold to Consit A/S. Consit is a Danish consulting company focusing on Oracle. The Oracle division has 16 employees and is expected to generate revenue of more than DKK 15 million in 2006. The transaction is structured as a transfer of business assets for cash consideration.

This successful and planned divestment of the Danish operations completes the restructuring and integration project in Ementor Danmark A/S, and in that connection, Carsten Dilling, CEO of Ementor Denmark, will be leaving the Ementor Group at the end of the year.

Ib Kunøe, Chairman of Ementor ASA, says:
“Over the last two years, Carsten Dilling has successfully turned our Danish unit Ementor Consulting and Solutions into a highly profitable business, and the strategic sale of the Consulting and Solutions activities is fully consistent with Ementor’s well-defined strategic focus on infrastructure solutions.”

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The Ementor Group is a leading provider of IT infrastructure solutions and products in the Nordic region. The Group has approximately 3 100 employees and is strategically located in the 49 most important cities in Norway, Denmark, Sweden, Finland and Lativa and an annual revenue of approximately NOK 13 bn. The Ementor Group uses both the Topnordic, Atea and Ementor brand in its business and is listed on the Oslo Stock Exchange. www.ementor.com

Contact Information

Rune Falstad

CFO

Ementor ASA

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