The business unit 3L Media has secured a development agreement regarding the system 3L Core with the US based Search Media company The Berry Company, LLC, - "Berry". Berry, formerly known as Local Insight Media, an existing client of 3L Media, successfully emerged from a 12 month Chapter 11 financial restructuring process on November 18, 2011 having written down the company’s long term debt by over 90%. Berry, whose Search Media operations are largely based on the business system 3L Core from 3L Media has in this deal signed an expanded agreement worth at least 4.7 million USD for 2012.
- After a long and careful evaluation during the Chapter 11 process 3L Media has been identified as a vital part of The Berry Company's continued success. Through this agreement we are securing our presence and profitability in the US market while giving us confirmation for the quality and business value that the business system 3L Core provides, says Fredrik Ruben, President & CEO of 3L System Group.
3L Media is the leading provider of back-end systems to new and traditional Search Media and Yellow Pages businesses. 3L Media's focus is to provide services to clients in the ever changing environment of the market for Local Search and Search Media, by delivering innovative and effective solutions for Small and Medium Sized company advertising.
For questions please contact:
Fredrik Ruben, President & CEO
3L System Group (publ)
Tel. +46-8-705 38 00
E-Mail: fredrik.ruben@3lsystem.com
About 3L System Group:
3L System Group develops advanced software systems helping clients to achieve competitive advantages in a world where business and services increasingly take place online. 3L System offers client-specific solutions, product installation services as well as training and support. The 3L System Group Share is traded on NasdaqOMX First North and Avanza Bank is the company's Certified Adviser. www.3lsystem.com
