Adcore: Adcore maintaining enterprise applications initiative; Per Agelii appointed business area manager

2002-01-23

Adcore’s Board of Directors has also determined the dates of forthcoming statutory reports and its AGM.

Mr. Agelii, 36, has lengthy experience of the total business concept surrounding enterprise applications, and the associated consulting. He was part of SAP Svenska’s corporate management for several years, most recently as a Business Area Manager. He has also been a Senior Consultant and Consultant oriented on sales to, and implementations of IT solutions for, major Swedish corporates in many sectors.

Adcore is now forming the Enterprise Applications business area, with close to 100 management and applications consultants capable of running specialist assignments and major projects or undertakings. Enterprise Applications offers services and specialist skills in business intelligence, supply chain, portals and enterprise applications/ERP systems. Adcore has experienced robust order bookings in these activities in late 2001 and early 2002, and anticipates brisk growth ahead. Accordingly, Adcore considers reinforcing its supply capabilities and extending its enterprise applications offering as important. In order to respond to expansion, Adcore now perceives an increasingly clear-cut need for specialist consultants and project managers in this area.

Commenting, Ole Oftedal, Adcore’s CEO, said: “Adcore possesses impressive enterprise applications skills, and is now encountering increasing client demand in this segment. I’m very pleased that we’ve now tied in Per Agelii to head up this initiative, intended to further consolidate our positioning in this expansive and lucrative segment. Per is a straight-talking, energetic and popular manager with a very broad-based contact network and profound understanding of consulting activities and the business opportunities associated with enterprise applications.”

Mr. Agelii was responsible for the build-up of SAP’s successful consulting operation (1997 – ’99) and for the Energy, Transport and Telecom business area, with major accounts including Vattenfall, Sydkraft and Swedish State Railways (2000 – ’01).

Mr. Agelii responded: “Adcore has arguably the most experienced and skilled consultant corps in this segment, and is SAP’s second largest consulting partner in Sweden. These factors, combined with Adcore’s other skills, confer very bright prospects of becoming the leading ERP systems consulting player-undoubtedly, a very exciting challenge.”

The new business area is being formed coincident with the inception of Adcore’s new organisational structure, with Enterprise Applications being one of a total of four business areas. The others are Management, integrating Adcore’s strategic advisory, process development and change management skills, Program Management, populated by experienced project and program managers and other competencies critical to the implementation of major client undertakings. The fourth is Technology & Development, active in development, systems integration and implementation, as well as the associated processes supporting clients in running efficient IT functions.

Forthcoming financial report dates:

Adcore’s Board has set the following dates for its statutory reporting and its AGM:

Financial Statement 2001 and associated Press Release, 20 February 2002; First-quarter Report 2002, 25 April; AGM, 25 April; Second-quarter Report 2002, 22 August; Third-quarter Report 2002, 6 November.

The Telia group signs a master agreement with Adcore

Adcore has recently reached a master agreement with the Telia group regarding the supply of IT consulting services, and as a consequence, Adcore becomes one of 37 preferred Telia providers. This deal applies through 2002, and is important to Adcore, which increasingly, will focus on a select group of clients, including Telia.