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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 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.
In connection with Kroll's offer to acquire all outstanding shares in Ibas Holding ASA at a price of NOK 23.50 per share, Mr. Bjørn Arne Skogstad (CEO of Ibas) has today accepted Kroll's offer for his 12,000 shares in Ibas Holding ASA, after which he has no further shares or rights to shares in Ibas Holding ASA.
Reference is made to announcements made by Ibas Holding ASA (“Ibas”) on 18 November 2005 regarding the entering into of a bid agreement with Kroll, Inc.
Kroll, Inc (“Kroll”) and Ibas Holding ASA (“Ibas”) has on 17 November 2005 entered into an agreement (the “Bid Agreement”) pursuant to which Kroll will make a tender offer for all the shares in Ibas at an offer price of NOK 23.50 per share. The consideration shall be paid in cash.
After signing a prestigious contract worth NOK 5.5 million with a major investment bank, Ibas will undertake cataloguing of some 40,000 tapes containing historically important data.
Ibas Holding ASA achieved solid results for the third quarter of 2005 with very good profitability. Both Ibas and Vogon contributed to the good development. Consolidated figures show a pre-tax profit for the third quarter totalling NOK 10.3 million, compared to NOK 3.0 million for the same period last year.
Ibas Holding ASA achieved a quarterly organic growth of 14.8 per cent in the second quarter of 2005 and can thereby report double-digit growth for the seventh quarter in a row. UK-based Vogon has been consolidated in the accounts with effect from 1 June, and contributed sales of NOK 7.9 million and an EBITDA of NOK 1.3 million during that month.
Turnover for Ibas Holding ASA increased by 10.8 per cent during the 1st quarter of 2005, from NOK 20.9 million in the same period of last year to NOK 23.2 million. This represents the sixth quarterly period with two-digit growth for the company, which partly reflects a stronger sales concentration on the Nordic and Germany. During the first quarter, Ibas also fulfilled its goal of becoming Europe’s leading data care specialist through the acquisition of Vogon.
Computer security specialist Ibas is acquiring UK-based Vogon International Ltd, making it European market leader for data recovery and computer forensics.
Ibas Holding ASA increased turnover by 18.5 per cent to NOK 91.7 million in 2004. The EBITDA result came to NOK 13.2 million in 2004, as against NOK 11.3 million in 2003.
Ibas is to provide secure data erasure on computers owned by the Norwegian defence forces under a four-year frame agreement with Siemens Business Services. The work will be done on PCs with a "restricted" security grading which are due to be recycled during the lifetime of the contract.
Data recovery specialist Ibas has signed an agreement with BELFOR International, the world leader for disaster recovery of technical and mechanical equipment. This deal will strengthen the growing distribution of Ibas services in Europe, while also opening the door to the highly interesting Asian market.
Svein R. Goli has been elected as the new chair of data recovery specialist Ibas, which is due to be listed on the Oslo Stock Exchange from 20 August.
~ data thieves eye up Google, Yahoo! and Lycos email accounts as “virtually bottomless electronic swag bags” ~