PopNet Internet AG
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PopNet Internet AG gains majority holding in software developer
SaM-Service GmbH of Gilching near Munich and Minsk in Belarus /
Major increase in human resources with 200 additional IT-specialists
The Hamburg-based PopNet Internet AG is acquiring a 51 percent
share in SaM-Service GmbH of Gilching, near Munich, and Minsk in
Belarus on October 1, 2000. SaM specializes in software
development for major enterprises. The company currently employs
more than 200 highly qualified and experienced IT experts, who
for several years now have been successfully undertaking major
projects for customers such as Siemens and the European Patent
Office (EPO). The company is profitable and has doubled its sales
revenues and workforce each year since its establishment. The
transaction will for the most part be financed by an exchange of
shares from the approved capital of PopNet Internet AG.
PopNet Internet AG’s majority stake in SaM represents a strategic
investment which will strengthen the competitive position of the
Hamburg company substantially and increase the profitability of
the PopNet Group in the longer term. As a result of the
transaction, PopNet Internet AG gains direct access to more than
200 IT specialists in Minsk/Belarus, whose personnel costs in
Germany for training and professional experience would require an
annual investment of approximately 15 million Euro. With the
additional capacity, the company will be in a better position to
tackle large, highly complex projects demanding large-scale
personnel effort.
The number of IT-experts employed by PopNet Internet AG in the
sector software development will now increase to more than 400.
PopNet Internet AG and SaM have been cooperating closely over the
past ten-month period. The two firms have already successfully
completed their first joint projects.
Contact:
For Investors:
Janice Buchholtz, Head of Investor Relations,
Tel: +49(0)40-27827-269, Fax: +49(0)40-27827-199,
eMail:j.buchholtz@popnet.de
For the Media:
Kathrin Heider, Head of Corporate Communications,
Tel: +49 (0)40-27827-149, Fax: +49 (0)40-27827-199,
eMail:k.heider@popnet.de, Internet: www.popnet.de
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