Oslo, Saturday, January 1, 2000
Stock Exchange Notification
BLOM ASA ACQUIRES OPERA WIRELESS HOLDING
Blom ASA has agreed to purchase 100 percent of the shares in the Madrid-based software company Opera Wireless Holding, representing an enterprise value of € 7,5 million. The transaction will be settled in Blom-shares pending the Due Diligence process scheduled to conclude on 1 August 2007. – This acquisition marks the first step for Blom in capturing larger pieces of the value chain for Geographic Information, says Dirk Blaauw, CEO for Blom ASA.
Blom ASA is currently in a de-merger process where the Offshore Technology division will be separated from Blom ASA and listed on the Oslo Stock Exchange under a new name. The Geographical Information division will remain under Blom ASA. The strategic objective is to create two listed companies, each with a clear strategic ambition and strong focus. The acquisition of Opera Wireless is the first significant strategic move to expand into the value chain for location-based wireless devices.
Opera Wireless’ product portfolio consists of embedded software and hardware design for wireless devices including 3G, Bluetooth, Wi-Fi and DVB-H technologies. The company also designs multiplatform social communities for its clients.
- The acquisition of Opera Wireless represents a vertical expansion in the value chain for Blom ASA’s GI-division. Over the last years, we have spent significant resources on building the Pictometry-database, and the acquisition of Opera Wireless will enable us to capitalize on this product in many new and innovative ways, with particular focus on the navigation and mobile telecom industry. This transaction is an important strategic move for Blom ASA as our new strategic focus is on expanding into larger part of the value chain for the Geographic Information division. In addition; the acquisition of Opera Wireless represents a significant step up in business activity, product portfolio, sales and marketing network and management capacity for Blom ASA in Spain, continues Dirk Blaauw.
For further information, please contact:
Dirk Blaauw, CEO of Blom ASA, telephone 22 13 19 23
Jan Erik Braathen, CFO of Blom ASA, telephone 22 13 19 24