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2010-10-20

​Proact IT Group AB (publ) has today signed contracts for the acquisition of 60 % with option to buy 100 %, of the business in Storyflex Inc., with operations in the Czech Republic and Slovakia.

The company has a total of about 30 employees in four offices in Prague, Ostrava, Brno and Bratislava. Turnover last financial year April 2009 - March 2010 was 288 million CZK, corresponding to 115 million SEK. The acquisition price of 12 million SEK is paid in cash. Activities will be conducted under the name Proact Czech Republic Ltd. The former principal owner of the Storyflex respective the company's management will after the execution of the deal own 20 % each of the shares.

"We have since 2006, together with our principal shareholder developed Storyflex into the strongest player within storage and archiving in our geographical area. We see it as a natural progression go ahead together with Proact and create synergies and become a larger company in an international group. We want to ensure that we work with the right suppliers and the right technology to be able to approach large global customers, "says René Valvoda, president of Storyflex.

Proact CEO Olof Sand: "We are very excited to welcome Storyflex to the Proact family of companies. Together with Storyflex we will be able to deliver even more value to our customers. Many of our customers are international and when we now are present in Czech Republic and Slovakia we can be their partner also in these countries with local resources. Storyflex is recognized for its high competence and has a strong position in one of Europe's major industrialized countries with many renowned international companies. It gives us together the opportunity to develop our offerings in as well as our employees."

"Storyflex is similar to Proact both by the culture and the offer why we look forward to a smooth integration process with the activities of Proact" said Arne Kungberg responsible for Proact's subsidiaries in Eastern Europe. "We got in touch with the company through our international channels in the market, and Storyflex has proven that they are locally a very strong company in the same focus areas as Proact has; storage and archiving. We look forward to working with them ".

For further information, contact

Olof Sand tel.               +46 82 8410666                         e-mail: olof.sand@proact.se  

Vit Létavka tel.             +420 724 661 803                      e-mail: vletavka@storyflex.cz

Arne Kungberg tel.        +46 8410666 1995                     e-mail: arne.kungberg@proact.se

About Proact

Proact is a specialist in storage, archiving and securing large volumes of mission-critical information. As an independent integrator, Proact provides systems, support and consulting services within its focus area of data storage and archiving. The Proact Group has more than 300 employees and conducts business in Denmark, Estonia, Finland, Latvia, Lithuania, The Netherlands, Norway and Sweden. Proact was founded in 1994 and its parent company, Proact IT Group AB (publ) has been listed on Nasdaq OMX Stockholm since 1999 under the symbol PACT. Additional information about Proact is available at www.proact.eu.

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