Jeeves Sells ERP Operations of Subsidiary Reveny
Transfer date is December 1, 2009. The transaction is expected to have a limited positive effect on Jeeves' operating profit for 2009. Short-term, Jeeves annual turnover will be reduced by approximately 7 percent and the transaction will have a slightly positive impact on profitability.
Beside operations of Jeeves ERP and maintenance of the customer base for the ERP-system Reveny, Reveny also manages sales and implementation of the HR-system HRM Software. Since the company was acquired by Jeeves 2002, a number of customers have replaced their Reveny ERP system with Jeeves ERP. The sale includes operations and customer bases for Reveny and Jeeves systems. Buyer Ninetech is a Jeeves partner that delivers complete IT solutions.
"Jeeves acquired Reveny in order to provide customers a transfer to Jeeves ERP-systems and build expertise, which now successfully has been achieved. With a broader offering, the operations can be further developed by Ninetech," said Bengt-Åke Älgevik, CEO Jeeves.
"The acquisition strengthens our market position and further establishes ourselves in Gothenburg. We will get access to an attractive customer base and additional skilled employees," said Ulf Sandlund, CEO Ninetech AB.
Jeeves Information Systems AB is a leading provider of business software, as the products Selected Jeeves, Jeeves Universal and Garp offer broad functionality to the market's lowest total cost of ownership *. Customers are now among some 4 000 companies in over 40 countries. Jeeves is since 1999 listed on the NASDAQ OMX Nordic Exchange (Small Cap). www.jeeves.se * Radar Group 2007
About Nine Tech
Nine Tech Inc. is a knowledge company in the IT based in Karlstad. Nine Tech started in 1993, annual sales of approximately SEK 75 million and employs approximately 60 people with offices in Karlstad, Malmo, Stockholm and Oslo. Nine Tech delivers total solutions in IT with a focus on business value.