Adcore acquires E*Cube in Holland

2001-01-31

Adcore has acquired the Dutch software development company E*Cube, operating from Nijmegen, the Netherlands.

The company was founded in 1997 and has 13 employees. E*Cube is specialised in e-commerce applications, Intershop and back office software. Canon, Ingram Micro, KPN, Score and Unilever are among the clients

E*Cube has been a partner to Adcore Holland since January 2000, co-operating in software development projects based on the Intershop platform. The two former E*Cube owners will stay with Adcore Holland.

The agreement means that Adcore AB buys 100 per cent of the shares in E*Cube. The deal is worth SEK 3.53 millions, paid for in 62.654 newly issued Adcore shares, and SEK 1.29 millions in cash.

The total amount of Adcore employees in Holland after the acquisition is 84, operating from offices in Amsterdam, The Hague and Nijmegen.

Stockholm January 31, 2001

Adcore AB (publ)