| EuroTrust
Sells Hosting Activities to Mondo [22nd October
2003]
COPENHAGEN, Denmark, Oct 22, 2003 (BUSINESS
WIRE) -- - EuroTrust gains favorable sales agreement
from successfully turning hosting activities profitable!
EuroTrust A/S (Nasdaq ADS: EURO) today
announced it has completed and finalized the sale of
its hosting subsidiary, EuroTrust Secure Hosting A/S,
to Mondo, a high profile Danish IT-company. The parties
have furthermore agreed to forge a strategic alliance
to offer digital signatures to the costumers of Mondo
both within hosting and other business areas.
EuroTrust Secure Hosting was created
in December 2001 when the wholly owned subsidiary Digiweb
was merged with DHT Hosting ApS. At this point Digiweb
was unprofitable, but merging with DHT and thereby implementing
state-of-the-art automated hosting systems has turned
EuroTrust Secure Hosting into a profitable company.
The streamlining of the hosting activities has proven
crucial to gain profits in the strongly competitive
web hosting market and is the prerequisite for the successful
sale of the subsidiary.
"I am very pleased with the outcome
of our strategy regarding EuroTrust's hosting activities.
We carried out the necessary adjustments a few years
ago and today we are able to sell a profit generating
company", said Chief Operating Officer Brian Mertz
Pedersen. "By ensuring a strategic alliance with
Mondo to market our security products we are able to
continue positioning EuroTrust as a leading security
company".
The sale of EuroTrust Secure Hosting
is part of the management's constant strive to focus
on digital the e-security strategy based on the affiliate
agreement with VeriSign. As the hosting market is very
competitive and requires total focus EuroTrust has decided
to take in the value of the hosting activities and thereby
enable focus on core activities and reduce the overall
risk. Mondo on the other hand has a strong focus on
the hosting market.
"The costumer port folio of EuroTrust
Secure Hosting is well suited for the business model
of Mondo and will significantly enhance our volume",
said Managing Director Anders Christian Andersen. "As
we always approach our costumers with regard for current
and future needs we are furthermore very pleased to
be able to add the highly branded VeriSign security
products to our palette."
As part of the agreement EuroTrust and
Mondo have forged a strategic alliance under which EuroTrust's
digital signatures will be offered to the customers
of Mondo both within hosting and other business areas.
This alliance poses great potential due to the positive
development of the market and Mondos strong position.
About Mondo A/S:
Mondo A/S is an IT-company that creates
business advantages through the use of Internet thus
developing and hosting advanced solutions critical to
customer businesses. The company consists of about 30
experienced and highly educated employees working within
the areas of strategic consultancy, concept and design,
development and system integration, project management
as well as managed hosting.
More
information about Mondo is available at http://www.mondo.dk.
About EuroTrust A/S:
Formed in 1986, EuroTrust (Nasdaq ADS:
EURO) is the largest Affiliate of VeriSign Inc. worldwide
and the leading provider of trusted PKI-infrastructure
services to Web sites, enterprises, electronic commerce
service providers and individuals throughout Europe.
EuroTrusts digital security offerings are available
via its Web site (www.eurotrust.dk), direct sales force,
and reseller partners in Europe.
EuroTrust operates in Denmark, Sweden,
Norway, Finland, Austria, Switzerland, and Italy. More
information about EuroTrust and its subsidiaries is
available at http://www.eurotrust.dk/.
Except for historical information contained
herein, this news release contains forward-looking statements
that are dependent on risks and uncertainties including
such factors, among others, as the pace at which new
markets develop, the impact of competition and the company's
ability to implement timely responses to market conditions.
Further information on euro909.com is contained in publicly
filed disclosures available through the SEC's Public
Reference Branch or from the company's Investor Relations
Department.
SOURCE: EuroTrust
EuroTrust
Aldo Petersen, +45-3954-0000
aldo@eurotrust.dk
or
Brian Mertz Pedersen, +45 3954-0000
mertz@eurotrust.dk
or
Bertel Jensen, +45-3954-0000
investor@eurotrust.dk |
