Cybercom and Plenware to join forces


Cybercom and Plenware to join forces

Cybercom is acquiring Plenware, an IT consultancy with 550 employees and
operations in Finland, Estonia, Romania, and China. Together, the companies (1)
form a new, leading Nordic consultancy specialised in telecom, Internet, media
(TIM) and industry, (2) strengthen both organisations, and (3) enhance and
broaden service offerings to their customers."We greatly respect Plenware's capabilities and business - which is why the new
combined Group now fortifies its position as a leading Nordic consultancy within
TIM and industry," says Patrik Boman, president and CEO, Cybercom Group. "We see
excellent strategic fit between the businesses of Plenware and Cybercom. The
acquisition will enable us to expand into new geographic markets, and we further
broaden our customer base. We recognise Plenware's extensive knowledge within
the industry and will continue the strong development of the Plenware's business
as well as its highly skilled personnel. Buying Plenware is a continuation of
Cybercom's growth strategy to strengthen its position in the Nordics and obtain
valuable nearshore operations in Estonia and Romania - which is what our
customers are demanding. In addition, the acquisition will give us an important
connection to the rapidly growing Chinese market."

The acquisition is in line with Cybercom's growth strategy, and the new combined
Group's delivery capacity becomes more attractive for major projects and
assignments. The new Group will have about 1,850 employees and offices in China,
Denmark, Dubai, Estonia, Finland, India, Poland, Romania, Sweden, and the UK.
Sales are expected to increase to SEK 1,800 million annually, on a rolling
12-month basis. Plenware's customers include Nokia, Nokia Siemens Networks,
Sandvik, Alma Media, Kone, and John Deere Forestry."As a part of the Cybercom Group, Plenware has an excellent opportunity to
develop its business and participate in significant, large-scale customer
projects. The two companies complement each other excellently," says Hannu
Meskanen, co-founder, president and CEO, Plenware. "Building a future with
Cybercom will be extremely stimulating and in many ways also fulfils Plenware's
growth objectives."

Cybercom will hold an extraordinary general meeting (EGM) on 23 January to get
approval of the acquisition. The companies' boards and major owners support the
deal. Plenware is expected to be consolidated from 1 January 2008. The purchase
price for 100% of the equity is EUR 33 million; in addition there is about EUR
14 million in liabilities and obligations in Plenware. An additional purchase
price is expected to be paid based on 2007 and 2008 profit. Plenware runs a
high-margin operation with EBITDA of EUR 7 million (adjusted for one-offs) and
sales of about EUR 37 million forecasted for 2007. Plenware's telecom services
business unit generates 50% of sales, and its industry and service business unit
generates 50%. Very limited structural costs are expected with the deal and
besides sales synergies, minor cost synergies were identified, which will have a
positive effect during 2008. Earnings per share is expected to increase already
in Q1 2008 due to the deal."Cybercom has a strong balance sheet," says CFO Per Jonsson, "and we will
primarily finance the deal via credit facilities, with the addition of a
directed issue of Cybercom shares to current Plenware shareholders. We will
maintain a solid equity/asset ratio, which will be about 40% after the
acquisition. This deal is attractive because besides increased size, we will
expand our customer base, and at the same time diversify our industry sector and
geographical focus."

Additional information will be published in the EGM notification and Cybercom's
final year-end 2007 statement that will be issued on 5 February 2008.


Questions? Please get in touch with:
Patrik Boman, president and CEO, Cybercom Group +46 73 983 89 79
Hannu Meskanen, president and CEO, Plenware +358-501487
Per Jonsson, CFO, Cybercom Group +46 70 770 46 22
Patrik Anshelm, acting IR and communications director, Cybercom Group +46 70 971
12 84


About Cybercom
The Cybercom Group is a high-tech consultancy that offers global sourcing for
end-to-end solutions. The Group established itself as a world-class supplier in
these segments: portals, mobile solutions, embedded systems, e-commerce, and
business support systems. Thanks to its extensive industry and operations
experience, Cybercom can offer strategic and technological expertise to these
markets: telecom, Internet, and media (TIM); banking and financial services;
automotive; national defence; and the public sector. Cybercom runs projects
worldwide and has offices in Denmark, India, Poland, Singapore, Sweden, and the
UK. Since 1999, Cybercom's share has been quoted on the OMX Nordic Exchange.
Find out more at: www.cybercomgroup.com.

About Plenware
Plenware provides software development services for top companies in industrial,
telecom, finance, and media sectors by operating as customers' R&D collaborator.
Plenware was founded in 1999 by Hannu Meskanen and Sami Somero, is owned by the
founders, a private equity fund managed by Sentica Partners and the personnel.
Since its launch, the company has reported profit during all financial years and
has grown rapidly organically and through acquisitions. Plenware employs about
550 persons and has offices in Tampere, Helsinki, Oulu, Turku, Rauma, and
Hyvinkää, Finland and operations in China, Estonia, and Romania. The Estonian
and Romanian businesses were initiated in 2006 and the Chinese operations was
started in early 2007.

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