MYPUBLISHER IN EXTENSIVE PARTNERSHIP WITH BEST BUY IN THE US
Novestra’s portfolio company MyPublisher, Inc. have entered into an extensive partnership with Best Buy, Inc., one of the leading technology and entertainment retailers in the world offering a wide range of products such as computers, cameras, printers and software. The partnership was rolled out on October 11, 2009, with more than 800 Best Buy stores in the US launching in-store displays that present MyPublisher’s products and book making software as a solution to consumers who want to more easily share and display their digital photos. Best Buy, who sells millions of computers each year in the US alone, has chosen MyPublisher as a partner within the digital photo space. The launch of the in-store displays is a first step in what is deemed to be a long-term collaboration, with prospects of being rewarding for both parts.
“MyPublisher has continued to have a strong development, despite the weak economic situation in the US, and is viewed as the leading producer of digital photo books and other products relating to digital photos. So far during 2009, MyPublisher has continued to show growth and significantly improved results, and we are hoping for this development to accelerate during 2010”, says Theodor Dalenson, Chairman of AB Novestra and Board member of MyPublisher, Inc.
MyPublisher had sales of approximately MSEK 200 during 2008, and Novestra, as the largest institutional shareholder, owns approximately 25.5 percent. For further information, please see the press release from MyPublisher:
http://www.prnewswire.com/news-releases/mypublisher-leading-photobook-company-partners-with-best-buy-to-bring-photobook-publishing-directly-to-electronics-retailers-consumers-63846937.html
Questions will be answered by Theodor Dalenson, Chairman of AB Novestra and Board member of MyPublisher, Inc., telephone no. +46 8 545 017 50.
About AB Novestra
Novestra is an independent investment company with a portfolio of investments in a number of privately held growth companies including Diino AB, Explorica, Inc., MyPublisher, Inc., Netsurvey AB, Qbranch AB and Strax Holdings, Inc.
The Novestra shares are listed on NASDAQ OMX Stockholm, under the symbol NOVE, in the Small Cap section. For further information regarding AB Novestra, reference is made to www.novestra.com
Download press release (PDF)