Accounts and notes Note 33 - Events after year-end
| Acquisition of subsidiary | ||
| On 23 January 2008, Cybercom Group Europe AB acquired 100% of the share capital in Plenware Oy. Takeover occurred on 1 January 2008. Plenware is a Finnish IT Group with about 550 employees in China, Estonia, Finland, and Romania. The fixed purchase price was SEK 309,558 thousand (EUR 32.7 million), which was paid in cash – SEK 206,236 thousand (EUR 21.8 million) – and newly issued Cybercom shares – 1,923,347 at SEK 53.72/share (EUR 10.9 million). The contact commits Cybercom to take over debts and obligations up to at most EUR 14.2 million. If the debts were lower at takeover, then an additional purchase price equal to the difference between the maximum amount and the actual value of the debt would be paid. At takeover, debts were EUR 3 million lower than contracted, so an additional SEK 28,421 thousand (EUR 3 million) is paid as a purchase price settlement. The additional purchase price was based on 2007 profit, which will reach EUR 2.5 million. An additional purchase price of at most EUR 5.5 million, based on 2008 profit, might be paid. | ||
| Preliminary goodwill of SEK 311,169 thousand arose in conjunction with the acquisition and was mainly attributable to the expanded geographic coverage and customer base that Plenware contributed to Cybercom. | ||
| The total value of the acquired assets and liabilities, purchase price, and effect on the Group’s cash and cash equivalents concerning Plenware is shown in the table. | ||
| The acquisition analysis is preliminary. | ||
| Purchase price | ||
|---|---|---|
| Cash payment | 206,236 | |
| Settlement of acquired debt | 28,421 | |
| Newly issued Cybercom shares | 103,322 | |
| Expenses directly linked to the acquisition | 7,512 | |
| Fair value of acquired net assets | 23,684 | |
| Total purchase price | 369,175 | |
| Fair value for acquired net assets | -58,006 | |
| Goodwill | 311,169 | |
| Acquired net assets | Carrying amount | Fair value |
| Intangible non-current assets | 156,389 | 156,389 |
| Property, plant, and equipment | 27,439 | 27,439 |
| Financial assets | 84 | 84 |
| Deferred tax asset | 1,260 | 1,260 |
| Other current assets | 70,484 | 70,484 |
| Deferred tax liability | -13,736 | -13,736 |
| Non-current liabilities and provisions | -55,807 | -55,807 |
| Current liabilities | -128,107 | -128,107 |
| Acquired net assets | 58,006 | 58,006 |
| Investing activities | ||
| Cash settled purchase price | 241,871 | |
| Cash and cash equivalents in acquired subsidiary | -19,375 | |
| Effect on Group cash and cash equivalents from acquisition | 222,496 | |
Note 1-16
Note 17-33
- Note 1 - Segment reporting
- Note 2 - Salaries, other remuneration, and social security costs
- Note 3 - Auditing fees
- Note 4 - Other operating revenue and expenses
- Note 5 - Operational leasing
- Note 6 - Profit/loss from shares in Group companies
- Note 7 - Financial revenue
- Note 8 - Financial expenses
- Note 9 - Appropriations
- Note 10 - Tax on year's profit/loss
- Note 11 - Discontinued operation
- Note 12 - Intangible non-current assets
- Note 13 - Property, plant, and equipment
- Note 14 - Financial assets
- Note 15 - Accounts receivable
- Note 16 - Other receivables
- Note 17 - Prepayments
- Note 18 - Shareholders' equity
- Note 19 - Untaxed reserves
- Note 20 - Deferred tax
- Note 21 - Other non-current liabilities
- Note 22 - Other current liabilities
- Note 23 - Accruals and deferred income
- Note 24 - Contingent liabilities and commitments
- Note 25 - Financial instruments per category
- Note 26 - Interest
- Note 27 - Adjustments for items not included in cash flow
- Note 28 - Investments in property, plant, and equipment and intangible non-current assets
- Note 29 - Acquisition of subsidiaries
- Note 30 - Disposal of assets and liabilities
- Note 31 - Cash and cash equivalents
- Note 32 - Related party transactions
- Note 33 - Events after year-end
