Under the terms of the agreement, GlobalNetFinancial.com, Inc. (NASDAQ,GLBN/LSE, GLFA) acquires SOLBØRS (www. solbors.no), one of the most highly trafficed and sophisticated financial websites in Norway. The employees in SOLBØRS owns 10% of the stock, and agree fully with the deal.
Kristin Skogen Lund, Managing Director of SOL Norway, commented: “This agreement is an important step in SOL`s strategy to offer the customers the best products and services available on the market. It will enable our users to gain access to a broad range of online financial services provided by GlobalNetFinancial. As an example, the non-professional investor is able through the Money and Finance Channels to access the same investment tools and insights that are available to the professional, giving them an edge in deciding matters of personal finance and investment. At the same time, institutional and professional investors can use the sites for the information necessary to make their strategic decisions. There will also be transactional services for online equity, insurance and currency trading.”
Commenting on the announcement, Stanley Hollander, Chairman and CEO of GlobalNetFinancial, said, “Eighteen months ago we set out to become the leading Money and Finance Internet Portal throughout pan-Europe. In our pursuit of this goal, we are strategically partnering with the leading ISPs and Internet portals throughout Europe. We are proud to add Scandinavia Online, by far the dominant Internet portal across Scandinavia, to the growing list of GlobalNet`s traffic partners.”
About Scandinavia Online
Scandinavia Online (SOL) is the leading portal network in Scandinavia, generating more than 150 million page views per month to over 4 million unique users. SOL includes: http://www.passagen.se/ (Sweden), http://www.sol.no/ (Norway), and http://www.sol.dk/ (Denmark). SOL ranks among the top three largest portal sites in Europe. Scandinavia Online is owned by these leading telecommunications and media companies: Telia, the largest Nordic telecommunications company and Sweden’s leading internet service provider; Schibsted, the leading media group in Norway; and Telenor, the largest telecommunications company and leading internet service provider in Norway.
About GlobalNet Financial
GlobalNetFinancial.com is a rapidly expanding international financial portal. Its websites contain online financial news produced by its own editorial team in each country, investment tools, and a range of personal financial services such as online share trading and insurance. GlobalNet and it`s traffic partners own substantial stakes in these transaction businesses. GlobalNet leverages its highly trafficked websites by partnering globally with leading consumer portals. The Company is 21% owned by strategic partners. GlobalNet’s shares are traded on both the NASDAQ National Market System and on the Alternative Investment Market of the London Stock Exchange, following a highly successful placing and UK public offer in December.