SHARE
COPY LINK

SOFTWARE

Intentia merger to create world’s 4th largest ES firm

Business software companies Intentia International of Sweden and US company Lawson Software, which is listed on the Nasdaq, have agreed to merge in an all-stock transaction worth $480 million, the companies said on Thursday.

Lawson will offer newly issued shares to Intentia shareholders in the deal which values Intentia’s shares 36 percent higher than their current value. The merger will create the world’s fourth-largest enterprise solutions company with 750 to 800 million dollars of annual sales and a profitability level of 15 percent of sales, Intentia chief executive Bertrand Sciard told AFP.

It will serve 4,500 customers in 40 countries. Europe and North America will each account for 45 percent of business, and the rest of the world for 10 percent, Sciard said.

Intentia currently makes just a small percent of its sales in the United States, and Sciard said his company needed the operation to expand into this profitable market “or stay a dwarf there”.

The operation has been approved by the boards of both companies but is still subject to shareholder and government approval.

The new company will operated under the name Lawson Software with its US headquarters in St. Paul, Minnesota.

(AFP)

UNION

Swedish firm lets workers vote on bonuses

A software firm in eastern Sweden has elected to take a democratic approach for distributing this year's 15 million kronor ($2.21 million) bonus among the company's employees.

Swedish firm lets workers vote on bonuses

If the bonus were shared equally between the 75 employees at Swedish software company Monitor Industriutveckling in Hudiksvall, each individual would receive an average of 200,000 kronor.

However, the company decided instead on letting employees determine the bonus amount each person would receive by ballot, Dagens Industri (DI) reported on Friday.

The company’s employees voted on the bonus on Thursday, the report said. Colleagues voted anonymously by slipping their choices in an envelope and placing it in a box.

Each colleague was evaluated on a scale from 1 to 5.

The company has posted positive results and forecasts a profit of 90 million to 100 million kronor this year.

When asked what the union thought of the company’s plan, owner Åke Persson laughed and told DI, “We haven’t heard of anything like this as long as I can remember.”

Monitor was founded in 1974 and develops, sells and markets its own Monitor business system. It specialises in materials and production management, as well as orders, inventory and billing.

Attempts by The Local to reach the company on Friday were unsuccessful.

SHOW COMMENTS