Trifork A/S : Nr. 10/2012: Trifork acquires full ownership of Trifork Project Copenhagen A/S.

Trifork acquires full ownership of Trifork Projects Copenhag... https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.a...

Published: 2012-07-05 14:01:53 CEST

Trifork A/S

Company Announcement

Trifork acquires full ownership of Trifork Projects Copenhagen A/S Message No. 10/2012

Aarhus, July 5, 2012, 2012-07-05 14:01 CEST (GLOBE NEWSWIRE) --

Today, Trifork A/S has purchased the remaining 49% of the shares in Trifork Projects Copenhagen A/S. The purchase sum in total was DKKm 5 of which DKKm 0,5 is paid with Trifork shares and the rest in cash. The purchase will have no impact on either revenue or EBITDA for the Trifork Group. For 2012
Trifork still expect a revenue of DKKm 230 and an EBITDA-profit of DKKm 36.
In 2008 Trifork acquired 51% of the shares in TPC with the purpose to create a bridgehead for the development activities of Trifork in Copenhagen. In the period up to today we have succeeded with this goal and have a very positive trend in both revenue and EBITDA-margins. In addition, there are created close relationships with a wide range of customers based on the principle of mutual respect and trust. This culture fits well with the philosophy of building and maintenance of customer relationships and building strong relationships with partners.

"By becoming a "full" member of the Trifork-family it makes it even easier for us to integrate functions and share resources and business opportunities with other business units within the Trifork Group, and we expect this to create even more growth for TPC and Trifork, "says Steffen Bering Jensen, Managing dir., TPC.

"From the very beginning we have had a good synergy with TPC and we are really pleased to be able to adopt the company completely in the family", said Jørn Larsen, CEO, Trifork, and continues: " With the acquisition we just state that the original decision to make close partnership was the right for both

parties - and we look forward to the future developments."

About Trifork Projects Copenhagen

TPC was founded in 2008 based on a comprehensive software development function from the company Nordija. In 2011 the revenue of the company was DKKm 14,4, with an EBITDA-result of DKKm 2,7. TPC currently have 12 employees based in Copenhagen and take part in deliverances on all the business areas of Trifork.

About Trifork

Trifork is an innovative software development company, which develop and implement business-critical software solutions to several sectors including: Finance, Healthcare, Government, Manufacturing and Telecom. The company is organized into three different business-areas: Mobile, Agile and Cloud, and the 180 employees are spread into 7 offices in Aarhus, London, Copenhagen, Zürich, Krakow,

1 af 2 05/07/12 14.04

Trifork acquires full ownership of Trifork Projects Copenhag... https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.a...

Stockholm and San Francisco. Trifork is listed on NASDAQ OMX in Copenhagen with a market capitalization at the end of 2011 at DKKm 256 / EUR 34M.
Kind regards,
Board of directors, Trifork A/S

Trifork A/S

Margrethepladsen

DK-8000 Århus C, Denmark

CVR-no. 20921897

ISIN DK0060102887

Shortname: TRIFOR Phone: [phone]

Fax: [phone]

Contact:

CEO, Jørn Larsen

Direct: [phone]

E-mail: [e-mail]

This news release was distributed by GlobeNewswire, www.globenewswire.com - a NASDAQ OMX company

2 af 2 05/07/12 14.04