Pricer AB has entered into an agreement for the sale of its 51% stake in Appulse Retail Software Solutions Private Limited, New Delhi, India, to the remaining owners of the company. Appulse develops software that among other applications is used in Pricer’s ESL-system. Appulse was created in 2003 jointly by Pricer and local software engineers as part of Pricer’s development of its new ESL platform supporting new display devices as well as providing a cross platform distributed solution. “Appulse now wants to seek growth opportunities and develop outside Pricer’s main areas of interest and therefore the companies will separate formally, but we will continue to cooperate. Pricer has an agreement with Appulse that assures continued software development,” says Jan Forssjö, CEO of Pricer. The number of employees in Appulse at March 31, 2006 amounted to 56 out of the Pricer Group number of 124. Hence, the transaction will lead to a lower number of employees in the Pricer Group. Appulse had revenues in 2005 amounting to 8.5 MSEK with 1.2 MSEK in net result, primarily relating to services to Pricer. The shares are divested at close to book value in the Pricer Group, hence the financial effects of the transaction are limited. For further information, please contact: Jan Forssjö, President and CEO, Pricer AB: +46 8 505 582 00 Pricer AB (publ) Bergkällavägen 20-22 SE-192 79 Sollentuna Sweden Website: www.pricer.com Telephone: +46 8 505 582 00 Corporate Identity number: 556427-7993
Attached files