Swedish IT company Nocom AB to divest loss-making IT security distribution business Nocom Security

Nordic Business Report, Sept 21, 2007

NORDIC BUSINESS REPORT-21 September 2007-Swedish IT company Nocom AB to divest loss-making IT security distribution business Nocom Security(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com

Swedish IT company Nocom AB said on Friday (21 September) that it has decided to divest its loss-making IT security distribution business Nocom Security.

The divestment is part of the company's plan to streamline its operations and to improve profitability.

Earlier this year Nocom discontinued Nocom Security's volume-based sales operations in Finland and the Baltic countries, saying that the unit would focus on products enabling the company to compete on the basis of competence and value added services.

Nocom Security has 36 employees and reported a loss of SEK8m on a turnover of SEK188m in 2006.

Nocom, headquartered in Kista, Sweden, develops and distributes software and IT products through its subsidiaries Deltaco, IAR Systems, Network Innovation, Northern, Nocom Security, Nocom Software and Nocom Drift. The group has some 270 employees and annual sales of SEK800m. Nocom is listed on the OMX Nordic Exchange in Stockholm.

One British pound (GBP) is worth approximately 13.46 Swedish kronor (SEK).

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