Wise Group AB, listed on Nasdaq OMX First North, Stockholm, has acquired Novestras portfolio company Netsurvey Bolinder AB. Netsurvey is a leading company within employee surveys in Sweden. The cash consideration amounts to MSEK 23.5. In addition to the above Netsurvey has distributed MSEK 3 to its shareholders. Novestras ownership prior to the transaction amounted to 45.3 percent of the outstanding shares in Netsurvey.
The transaction was made on a value exceeding Novestras reported carrying value for Netsurvey by approximately 14 percent. Based on the closing price as at June 13, 2011 for the Novestra share, the implicit surplus value is approximately 35 percent. Netsurvey is in terms of value Novestras smallest holding and stood for approximately 3 percent of Novestras carrying value as at March 31, 2011.
“We have been working on finding a suitable strategic buyer for Netsurvey for some time and it feels great that it is one of the leading HR companies in Sweden that now stands as the buyer. Through Wise Group, Netsurvey and its employees will continue to develop and remain a long-term partner to its customers. The price that Wise Group pays for Netsurvey is acceptable based on the company size, profitability and position on the market” says Marcus Söderblom, resigning Chairman in Netsurvey and Vice President, AB Novestra.
For further information, please contact Marcus Söderblom, Vice President AB Novestra,
+46 (0)8 545 017 50.
About AB Novestra
Novestra is an independent investment company with a portfolio of investments in a number of privately held growth companies including Diino Systems AB, Explorica, Inc., MyPublisher, Inc., Qbranch AB and Strax Group GmbH. In addition, Novestra has an investment corresponding to approximately 6 percent of the shares in WeSC AB, listed on First North.
The Novestra shares are listed on the Nasdaq OMX Stockholm, under the symbol NOVE, in the Small Cap section. For further information regarding AB Novestra, reference is made to www.novestra.com
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