Viking Internet PLC
10 July 2000
News Item
VIKING INTERNET ACQUIRES 7% STAKE IN EPANI AB
High technology investment vehicle, Viking Internet PLC, which raised £2.0
million in an AIM float this May, has made its eighth and largest investment
to date. The company has acquired a 7% stake in Epani AB for £290,000 (just
over 4 million Swedish Kronor). Epani is an international supplier of complete
IT system solutions for the rapidly developing golf industry, and is extending
its systems into other growing sporting sectors which attract affluent
participants.
Epani is involved with three main golf-related activities. These include five
national portals in Sweden, Germany, Finland, Norway and Denmark operated by
European Golf Web Holding BV. Epanis's own tee time reservation system is
already used by over 600 US golf courses and is being adapted for another
major operator in Florida. Epani has gained over 90% market share of the golf
sector in the Nordic countries with a variety of IT products. These range from
reservations, tournament handling, handicapping, cashier services to course
maintenance management. The company is also an Application Service Provider.
It employs 45 people and has established major offices in Halmstad, Sweden and
Orlando, Florida (USA), as well as representative ones in several other
European countries.
Epani has significant partnership agreements with Ericsson, European Golf Web
Holding BV, Adera AB, the British and International Golf Greenkeepers'
Association, and other prominent golfing operators
Viking Internet's investment represents just over 25 per cent of Epani's
recently completed financing of around £1.2 million (16 m Swedish Kronor).
Epani intends to use the funding to develop its existing businesses and
products and to use the technology to expand into other sporting areas. Epani
has recently signed a contract with the Swedish Equestrian Society, and the
company is in discussions with other potential sports clients.
Viking Internet's Executive Chairman, Erik Wachtmeister, said in Stockholm
today 'Thanks to our exceptional connections we have got in at the base of
what I am sure will be Epani's sharp success curve. We are in company with
some illustrious names in the Nordic region's investment community.'
Peter Sederowsky, who introduced the Epani deal, is a member of Viking
Internet's Investment Advisory Board, and former Chairman of Bidlet AB, which
in March he sold to QXL, of which he is now a director. He explains 'I wanted
Viking Internet to participate in this exclusive opportunity at an important
time for Epani, whose components have been independently assessed as extremely
valuable.'
Viking Internet's website is www.vikinginternet.com. Epani's website is
www.epani.com.
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