Euro909.com Acquires Danish ERP Firm

European e-business enabler euro909.com this week moved to acquire a
Danish enterprise resource-planning company to initiate transforming the
firm into an application service provider.

euro909.com entered into an agreement to acquire Global Business Solutions A/S (GBS) for
100,000 shares of its stock, making the deal worth more than $725,000.

The acquisition of GBS should be completed sometime in July and will
convert euro909.com’s Web hosting strategy into an application hosting
resource for small and medium size European enterprises.

The deal should shore-up euro909.coms e-business product line-up because
it will be enable the firm to manage software-based business solutions
across a wide area network from its central data center in Soborg, Denmark.

GBS provides enterprise resource-planning solutions based primarily on the
Damgaard Axaptad integrated enterprise programming, developed by
Danish-based Damgaard A/S. GBS is an
authorized business partner within Damgaard’s global network, which extends
throughout more than 25 countries worldwide.

Aldo Petersen, euro909.com president and chief executive officer, said the
deal lands it firmly in the ASP arena.

“The acquisition of Global Business Solutions gives us the ability to
penetrate the booming ASP market by utilizing GBS’s expertise in ERP
consulting,” Petersen said. “By joining forces with Damgaard A/S and having
the expertise of GBS in-house, we believe euro909.com will be well equipped
to meet the challenge within this new market sector.

The ASP Industry Consortium
reports that as much as 25 percent of companies in Scandinavia, 66 percent
of U.K. companies, and 40 percent of French companies are planning to
purchase from ASPs during the next 18 months. Banking and financial
services, transportation, utilities, as well as travel and tourism industry
sectors have eagerly put the ASP delivery model to work in Western Europe.

Claus Olsen, GBS chief executive officer, said the combined companies would
comprise a formidable ASP force in Europe.

“We view the opportunity to market ASP solutions to euro909.com’s customer
base as tremendous, Olsen said. Being able to offer Web-hosting,
e-business solutions and other application hosting will give euro909.com
and GBS a competitive advantage over many.”

Formed in 1986, euro909.com integrates Internet technology and multimedia
solutions for thousands of Western European enterprises. With offices in
Scandinavia, the United Kingdom and France, euro909.com delivers
value-added consulting and technology solutions from domain name
registration to broadcast media advertising.