Scribona and Tech Data sign Asset Purchase Agreement

Scribona and Tech Data sign Asset Purchase Agreement

Leading Nordic IT distributor Scribona AB (publ.) today announced that it has
signed an Asset Purchase Agreement (‘Agreement')  with the Nordic affiliates of
Tech Data Corporation (NASDAQ: TECD “Tech Data”), one of the leading global
distributors of IT products.  The Agreement will result in the transfer of
essentially all of Scribona's operating activities. The Scribona Board of
Directors is unanimously recommending that Scribona's shareholders approve the
Agreement.

Tech Data will pay net asset value, as agreed between the parties, plus a
Premium for Scribona's operational assets.  The assets to be transferred will
include inventory, some intellectual property, material contracts, customer
list, office equipment, and other assets required for the operation of the
business.  The Premium will be in the range of €13.5 million to €16.5 million,
depending upon certain performance criteria.

The net proceeds realised by the company will include the value of the
transferred assets, the Premium, less all shut-down costs and any differences in
asset valuation.  Preliminary calculations suggest that net proceeds per share
will be in the range of 4.4 to 5.1 SEK per share, which represents a premium of
9 to 24% as compared to the average closing share price on the OMX Nordic
Exchange Stockholm during the 30 trading days prior to the company's 29 February
press release. More information on the calculation of net proceeds and the
distribution of the proceeds will be provided in the documentation for the AGM
on 29 April 2008. 

The transaction is subject to the approval of the Annual General Meeting of
Scribona Shareholders on 29 April 2008, the EU Competition Authority and meeting
certain performance-related criteria.  


SUMMARY

* Scribona's Board of Directors unanimously recommends shareholder approval of
the Agreement

* MarCap Investors LP and Nove Capital, which together represent approximately
25% of Scribona's share capital and voting rights, have indicated their support
for the Agreement and have committed to vote in favor of the transaction.

* The Board of Directors of Scribona has permitted Tech Data to perform due
diligence on its business prior to the announcement of the APA.

* The transaction is also subject to a set of performance criteria including the
transfer of a required number of employees, operating performance during the
closing period, as well as successful negotiations with vendors and trade
unions. 

* Preliminary calculations suggest that net proceeds per share will be in the
range of 4.4 to 5.1 SEK per share which represents a premium of 9 to 24% as
compared to the average closing share price on the OMX Nordic Exchange Stockholm
during the 30 trading days prior to the company's 29 February press release.

* Further details on the transaction will be presented in connection with the
notice to the 2008 Scribona Annual General Meeting of Shareholders on 29 April
2008.

Fredrik Berglund, President and CEO of Scribona commented: “We announced back in
December that we were in discussions with a number of unnamed parties who had
indicated an interest in the company.  We have been focusing on the operational
reorganization of the company in order to enhance our position in increasingly
competitive markets. The combination of the Scribona and Tech Data businesses
will create a strong IT industry player with the market reach to develop
further. The industrial logic of the combination is compelling and provides the
basis for the future development of the Scribona business and marks a new phase
in our development. The new entity will be a leading distributor of IT products
in the Nordic region and will be able to improve customer satisfaction through
increased market focus and deliver sustainable long term growth in an
increasingly competitive market environment.” 

“The Board of Directors unanimously supports the agreement and will recommend to
the Annual General Meeting of Shareholders to accept it. I am confident that all
our employees will continue to focus their energies on satisfying our customers
and delivering against targets in the upcoming transitional period and we will
be working very closely with the unions to ensure an appropriate outcome for all
employees concerned.”

“Through this transaction, Tech Data will gain a talented team of highly
experienced distribution employees that will help strengthen our operations and
drive stronger relationships with our key vendor partners and customers,” said
Robert M. Dutkowsky, Chief Executive Officer of Tech Data Corporation. “This
combination will provide Tech Data's new and existing customers access to an
extended portfolio of vendor partners including an expanded suite of value-added
hardware and software business solutions.”

Variation in Asset Purchase Price and Premium

The Asset Purchase Price consists of the agreed net asset value plus the
Premium.  Net asset value will be calculated for the assets transferred at
closing in accordance with valuation rules agreed between the parties.  Key
assets to be transferred include the inventory, some intellectual property,
material contracts, office equipment, and other assets required for the
operation of the business.  The net asset value will vary depending on the age
and condition of assets transferred at closing.

The Premium will be in the range € 13.5 million - € 16.5 million and is subject
to a set of operational and performance criteria. 


Staffing

As of 4 March 2008, Scribona will begin consultations with the trade unions
regarding the implications of this Agreement for the employees, including
redundancies. 

Background

The global IT industry is currently going through a process of consolidation,
with increased competition, diversification of sales channels and price
pressure, as well as the high level of recent mergers and acquisitions activity
in the sector. Scribona received several approaches from third parties during
the 2007, with a view to initiate merger or takeover talks. These approaches did
not lead to any formal proposals, but did cause the Board of Directors to
initiate a formal process for evaluating approaches received from third parties.
The Board of Directors also started proactively considering the strategic
options available for Scribona in the context of increased competition and a
consolidating industry. During the late second half of 2007, Tech Data expressed
interest in Scribona and the Board of Directors subsequently allowed Tech Data
to perform a due diligence process. 

As a result of the transaction, the consolidated company will have the resources
to create dedicated teams to focus on each area of the business. The combination
of Tech Data and Scribona will become the leading value-added distributor in the
region. The consolidated company will leverage existing back office teams and
processes to create a business with a competitive cost structure. 


For additional information, please visit www.scribona.com or www.techdata.com or
contact:

Fredrik Berglund, President and CEO of Scribona, +46 8 734 34 00
Jonas Elmgren, Managing Director Nordic Region, Tech Data, +46 8 795 2015

INFORMATION ABOUT SCRIBONA AB
Scribona, quoted on the Small Cap list of the OMX Nordic Exchange, is a leading
provider of IT products in the Nordic market. The product range includes
Personal Computers & Peripherals, Servers, Storage & Infrastructure, Enterprise& Client Software and Entertainment & Personal Communication. The products are
distributed by IT resellers and retailers in Sweden, Finland and Norway.
INFORMATION ABOUT TECH DATA AB 
Tech Data AB is a wholly owned subsidiary of the Tech Data Corporation (NASDAQ
GS: TECD), which was founded in 1974 and is a leading distributor of IT
products, with more than 90,000 customers in over 100 countries. The company's
business model enables technology solution providers, manufacturers and
publishers to cost-effectively sell to and support end users ranging from
small-to-midsize businesses (SMB) to large enterprises. Ranked 109th on the
FORTUNE 500(R), Tech Data generated $21.4 billion in sales for its fiscal year
ended January 31, 2007.