2010-12-22 Press release: Qbranch – positive developments and new orders

Novestra’s portfolio company Qbranch have experienced a period with a series of positive events, that now have started to have effect. This past summer and fall has been one of the strongest ever for Qbranch when it comes to orders, a period when Qbranch signed several new agreements and letters of intent for IT-outsourcing. The total order value for new orders during the period amounts to MSEK 180, and the total value of existing agreements amounts to approximately one billion SEK.

The latest in a line of significant orders, is a renewal and expansion of the existing agreement with Praktikertjänst, with a total value of MSEK 28.

The end of 2010 has been strong for Qbranch, and the outlook for 2011 is very positive, as the new orders during 2010 will come into full effect during the first quarter of 2011.

In November of 2010, Qbranch was awarded IT-services Company of the Year in the prestigious IT Business Awards 2010. Qbranch was also, once again, appointed one of the best places to work according to Great Place to Work 2010, and Universum acknowledged Qbranch as Employer branding company of the year 2010.

“The first six months of 2010 were slow when it came to new orders, and therefore it is very satisfying to see that the long term work to ensure the quality of sales and operations is paying off. A renewal of larger agreements, as the one with Praktikertjänst is even more satisfying, as it is proof that Qbranch delivers according to its promises – to have truly satisfied customers.

As a result of the positive developments Qbranch is once again in a recruiting phase, and it is very positive that all of Qbranch’s efforts in employees and a strong corporate culture is recognized and made visible through all the rewards and recognitions the company was awarded during 2010” says Johan Heijbel, board member in Qbranch, and Novestras Managing Director.

For further information, please contact Johan Heijbel, Managing Director AB Novestra,
+46 (0)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 Group GmbH. In addition, Novestra has an investment corresponding to approximately 11 percent of the shares in WeSC AB, listed on First North.

The Novestra shares are listed on the 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

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