Goldbug100 - Service Point Solutions (SPS.MC) Press Release. Service Point to acquire Holmbergs of Sweden

January 21st, 2011

	SPS is entering the Swedish and Danish markets with the acquisition of Holmbergs, a company with annual revenue of €14 million    SPS’s plan is to build a Scandinavian business with turnover of €100 million over the coming years. The company is currently in active talks with targets in Sweden, Finland and Denmark    This acquisition will generate significant synergies across the SPS Group, especially with its successful Norwegian arm through the rollout in Sweden of the online strategies deployed in 2010 (www.idekor.no)    The acquisition will close following completion of the equity raise to be approved at the shareholder meeting called for 21st February    The acquisition price will be 5 times audited 2010 EBITDA. The target boasts solid cash flow generation and net cash of more than €1 million
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