Proha and QPR Software Made a Cooperation Agreement About Using QPR Technology Worldwide as Part of Proha's Artemis Products

Business Wire, Dec 11, 2000

Business Editors

STOCKHOLM, Sweden--(BUSINESS WIRE)--Dec. 11, 2000

Proha Plc and QPR Software Plc signed a long-term worldwide cooperation agreement about global development and distribution of Artemis products based on QPR technology.

Proha will use QPR technology to extend such features of its products as e.g. Balanced Scorecard and cost management. QPR will also continue to sell and distribute its products with their own names.

According to Proha's CEO, Mr Pekka Pere, QPR technology has strengths that will extend the operational features of Proha products. Artemis products based on QPR technology will have an essential influence on Proha's turnover already in 2001. "The prospects are really promising in Central Europe, Asia and the United States," says Pekka Pere.

The Chairman of the Board of QPR, Mr Jouko Pelkonen, sees this agreement as a very important opening for widening the markets of the QPR products. "We will enter the growing markets of Central and Southern Europe as well as the Asian markets." The OEM-type agreement also supports QPR's profitable growth strategy, because the resource demands of the cooperation are moderate.

QPR in a nutshell

QPR is a fast-growing international software house which develops, markets, sells and leases business development and management software. QPR's core competence is based on years of experience of turning out software products, international expertise in software sales, modeling and performance measurement as well as a mastery of business processes. The Group's pro forma net turnover 1-9/2000 was EUR 5,9 million, representing a growth of 71,9% on the previous year. Pro forma profit before interests and taxes was 20,3% from the net turnover. The Group has locations in Oulu and Helsinki, Finland, Stockholm and Halmstad, Sweden, and Minneapolis and Los Angeles United States. The Group's network of partners comprised a total of 30 partners in 14 countries. Currently, QPR Software employs over 100 people.

Proha in a nutshell

Proha is a fast growing, profitable, internationally operating software and service company. Proha concentrates on management in the Internet age. The key business areas are Project Management, Financial Management and Internet Technologies. The pro forma net turnover of the Proha Group is over FIM 500 million in 2000. Over 4/5 of the net turnover originates from outside Finland. The Group employs over 600 people over 400 of which work abroad.

Proha Plc Pekka Pere CEO

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