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Home » News & Press » News Articles » Norman ASA increases its share in Ibas AS

Norman ASA increases its share in Ibas AS

On the 30th November 1999, Norman ASA acquired a further 80,724 shares in its subsidiary, Ibas AS, and after this transaction owns 1,225,684 shares or 94.35% in Ibas AS. The board of directors of Norman ASA also, on the same day, decided to make a voluntray offer to the minority shareholders in Ibas AS to sell their shares to Norman ASA for a price of kr 34,- per share, the same price that was paid for the 80,724 shares.

- Norman is increasing its share in Ibas in order to achieve a strategic and organisational link between the companies in the light of Norman's long-term plans with this investment, says managing director Bjørn Fosli i Norman ASA.

Total vendor within the field of data security
Fosli says further that Norman, with its increased share in Ibas, will strengthen its position as a total vendor of data security products. With an even stronger link between Norman and Ibas, Norman will further strengthen its strategic position by ensuring a more effective operation. Norman and Ibas have compatible products and Ibas's products will in future also be offered to the market through Norman's Nordic and international distribution networks. Ibas has its head office in Kongsvinger and there are currently no plans to move its operations.

Leading competence
Ibas AS was established in 1978 and is one of the world's leading companies within the field of data recovery. The company is known for its competence and technology in recovering data from defect or damaged storage media for the majority of the operating systems on the market. Ibas also has a concession from the Norwegian Data Protection Office to handle information that is deemed sensitive according to Norwegian Law, including among other things, Ibas Secure Erasure Concept.




For further information, please contact:
Managing director Arve Saghaug in Ibas AS
phone: +47 62 81 01 00
cellular: +47 92 88 27 44
e-mail:
arve.saghaug@ibas.no

Managing director Bjørn Fosli in Norman ASA
phone: +47 67 10 97 17
cellular: +47 90 51 84 68

News
20 per cent growth for Ibas in 3rd quarter
Ibas Holding ASA increased its turnover by 20.3 per cent to NOK 25.4 million in the third quarter of 2004. Pre-tax profit came to NOK 4.0 million in the third quarter against NOK 3.8 million in the same period of 2003. The third quarter 2004 yielded the company's best-ever interim results.
Kroll Ontrack completes acquisition of Ibas Holdings
Kroll Ontrack Inc., the data recovery and legal technologies subsidiary of Kroll Inc., the global risk consulting company, has completed the acquisition of Ibas Holdings ASA, a leading Norwegian-based provider of data recovery, data erasure and computer forensics services. Effective today, Ibas becomes a holly-owned subsidiary of Kroll Ontrack AS, a newly-formed Norwegian entity.
 

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