Select countryLysaker, 1st December, 1999
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 reconstruction. The company is known for its competence and technology in reconstructing 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's secure erasure concept.
For further information, please contact
Managing director Bjørn Fosli in Norman ASA, tlf: +47-67-10-97-17 / +47-90-51-84-68
Managing director Arve Saghaug in Ibas AS, tlf.: +47-62-81-01-00 / +47-92-88-27-44
Norman ASA is one of the world's leading companies within the field of computer security. With products for virus control, access control, encryption, network security and data recovery, the company plays an important role in the data industry. Norman's products have more than 12 million users. Norman has approximately 220 employees and is represented by subsidiaries and strategic alliances in USA, Europe, Asia and Australia. The company is headquarted at Lysaker outside Oslo, Norway