NOVESTRA: QBRANCH RENEWS AND EXPANDS CONTRACTS WITH RIKSBYGGEN AND DN
Novestra’s portfolio company Qbranch announced today that the contract regarding IT-outsourcing with Riksbyggen has been expanded, in addition to the expanded contract with DN which was announced in the beginning of October. The contract with Riksbyggen has an initial value of approximately MSEK 60.
The renewed and expanded contracts involve continued responsibility for the operation and support of Riksbyggen’s and DN’s IT-environment for another three years.
“We have great confidence in Qbranch and we have been very pleased with their services during the past five years. Qbranch has a fast development of new services, especially within the area of system development and capacity services, where we believe our purchases will increase during the coming contract period,” says Mattias Hindfelt, Head of IT at Riksbyggen.
In the expanded contract with DN, Qbranch will have additional responsibility for securing the availability of DN’s operational applications, including the web ventures påstan.nu and alltommotor.se.
“We are looking forward to continued cooperation with Qbranch as IT is an important part of our ambition to be creative and to be able to profile ourselves through all channels, such as paper, web and mobile,” says Heba El Sheemy, Head of IT at Dagens Nyheter.
“Qbranch is one of our largest holdings and we are very pleased that Qbranch, in addition to our other holdings such as MyPublisher, Explorica and Netsurvey, continues to show strong growth in what can be characterized as a generally weak market. Several of the managements in our private portfolio companies believe that there are exceptional possibilities for growth even in a weak business cycle,” says Johan Heijbel, Managing Director at Novestra.
For further information please contact Johan Heijbel, Managing Director, AB Novestra, telephone no. +46 8 545 01750.
About AB Novestra
Novestra is an independent investment company with a portfolio of investments in a number of privately held growth companies including Diino AB, Explorica, Inc., MyPublisher, Inc., Netsurvey AB, Qbranch AB and Strax Holdings, Inc.
The Novestra shares are listed on the OMX Nordic Exchange Stockholm, under the symbol NOVE, in the Small Cap section. For further information regarding AB Novestra, reference is made to www.novestra.com.