NorCom Information Technology AG

ots Ad hoc-Service: NorCom Info.Techn. NorCom on course for strong growth in Northern and Southern Europe
NSA AS acquired Stock-market flotation planned in the medium term

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    Munich (ots Ad hoc-Service) - NorCom Information Technology AG has taken a major step towards becoming a major player in European e-security business. The Munich-based company has acquired a 51% stake in NSA AS, a Norwegian company excellently positioned in the Scandinavian e- business solutions market with roughly 55 employees. NSA is one of the leading consulting and project companies for application service providers and web factories in Scandinavia. Its client base for e-business solutions includes the most prestigious and largest names in the telecommunications and financial services industry as well as the public sector. As a result, NorCom will gain access to companies such as ABB Industry, DnB Markets, the largest commercial bank in Norway, Telenor Conax, Telenor Media, Bravida Telenor Company and the Department of Defense, with whom it will be able to promote its range of products and services. Together with NSA the aim is for NorCom to secure a portion of the still unsaturated Scandinavian IT security market with its NorCom Global Security (NGS) lineup.

    Profitable operations

    NSA AS not only possesses excellent sector and IT skills but also operates very profitably. In 1999, the Oslo-based company posted EBT of approx. EUR 164,000 on revenues just short of EUR 4 million. NorCom will be paying the vast majority of the purchase price with its own stock. As a result, NorCom has strengthened its position superbly in Scandinavia, a market with the highest Internet penetration playing a pioneering role in the European e-business / m-business sector. This e-business "boom region" will generate strong spending on IT security in the future. In the medium term a stock-market flotation is planned.

    Equity interest in Italian IT security company planned

    With its plans to take a stake in Italian IT security company Live Network Security srl, NorCom Information Technology AG is making further inroads into the Southern European market. Thus, in less than one year after its IPO, the Munich-based company has built up presence in Northern, Southern and Central Europe by setting up its own bases at key locations in Norway, Italy, Dublin and Germany, backing this up with new distribution channels.

    Based in Milan, Live Network Security is to form the main thrust of NorCom's activities in the Italian IT security market. An alliance was forged with the Italian company back in January of this year. The planned share in the consulting and systems integration company is to finance the establishment of the company's own distribution network for NorCom's flagship NorCom Global Security (NGS). This will form the basis for swift penetration of the Italian market by NorCom technologies. ------------

    For further information please contact: NorCom Information Technology AG Bettina Kraus - press Stefan-George-Ring 6 D-81929 München Fon +49-89-939 48 140 Fax +49-89-939 48 123

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Original-Content von: NorCom Information Technology AG, übermittelt durch news aktuell

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