RealTime IT News

Adera Brings IPO on the Stockholm Stock Exchange

Fast growing Adera AB will be the second Internet company to join the Swedish Stock Market in its effort to win over focused Net companies.

Adera will be traded on the stock market as of June 10. The IPO is expected to bring in SEK 80 million (US$10 million), giving the company a market value of SEK 370 million (US$45 million).

Adera began as an advertising and trademark company, but it transformed in the last five years to an Internet-related management, advertising, PR and trademark business. With this combination of services, Adera hopes to bring e-commerce to all of its business customers.

Adera has offices in Gothenburg, Ljungby and Stockholm in Sweden, as well as in Denmark, Holland and Germany. Customers include Volvo, Telia, SCA, FMV, Lindex and Kalmar Industries.

The company's main competitors are Icon Medialab, Razorfish and Framtidsfabriken/Netsolutions.

"Already today we plan to make some strategic acquisitions...There are also business possibilities in the U.S. that we hope to explore. To make this growth and transformation take place Adera needs more funds. That is why we [are announcing] this IPO," said Rolf Jansson, CEO of Adera AB.

Adera's total sales for 1999 is expected to reach SEK 170 million (US$20 million), although the company will still be in the red due to rapid expansion and acquisitions.