Schibsted today announces an offer to buy all the shares in Basefarm AS for a total of NOK 145 million. The offer is conditional upon Schibsted obtaining an ownership of at least 70% in Basefarm.
Basefarm is a leading player within internet-, application- and server in Scandinavia and has specialized in hosting business critical applications for internet. The company has 62 employees in Norway and Sweden with high skills and experience within i.e. infrastructure, databases, application servers, search technology, e-mail, content management and e-business. The company has clients primarily within media e-commerce and the public sector.
Basefarm has revenue forecasts of approx. NOK 100 million in 2006 with an operating profit (EBIT) of NOK12-15 million excluding synergies.
“Basefarm is well positioned in a strong growth market,” comments Schibsted CFO Trond Berger. “In addition, this is a first step in the direction of further coordination of the running of the group’s IT. We see clear synergies in a joint group IT platform. Basefarm is already hosting the IT platforms for several Schibsted companies, i.e. Sesam, VG, Retriever and TV4 and BytBil in Sweden.”
CEO in Basefarm Grethe Viksaas, telephone 916 42 888 or
CFO in Schibsted Trond Berger, telephone 916 86 695
Oslo, December 19th, 2005
Gisle Glück Evensen