In line with the commitment to continuously improve and optimize our business strategy, SpectrumOne AB ("SpectrumOne" or the "Company") announces today the divestiture of its subsidiary, BizWell Sweden AB, to the management of the subsidiary. Closing took place today, but the transaction is subject to shareholders' approval in accordance with the Swedish Companies Act. The sale is part of the Company's ongoing focus to concentrate on the most profitable and growth-oriented parts of our business.

The purchase price of the shares amounts to SEK 50,000. Prior to the transaction, SpectrumOne received an extra dividend of SEK 1.2 million. In addition, SpectrumOne will throughout 2024 invoice BizWell Sweden AB for management and consulting services amounting to SEK 250,000.  The turnover of Bizwell Sweden AB amounted to SEK 0.9 million last year.

" This divestment aligns with our strategy to focus our investments and resources in areas that promise the highest growth and profitability, particularly our PRISM portfolio of services. Our investment in BizWell Sweden AB has been beneficial not only from an financial point of view but also providing significant know-how that will be instrumental as we continue to develop and expand our services. Selling BizWell Sweden AB enables us to streamline our operations and enhance our profit margins." - Fredric Forsman, Chairman of the Board, SpectrumOne.

For further information contact:

Fredric Forsman, Chairman
+46 739 78 78 44
fredric@spectrumone.com

Certified Adviser:
Aktieinvest FK AB (556072-2596)
Box 7415 103 91 Stockholm
Telefon: +46 8 506 517 03
ca@aktieinvest.sewww.aktieinvest.se

About SpectrumOne AB
SpectrumOne is a leading technology company delivering an advanced Data Management, Analytics & Communications platform suite. Offered in a SaaS online service shipping with rich market data from various professional providers, SpectrumOne provides a unique solution to many leading actors across industry segments in various countries. Enabling clients with fast and easy access to data insight and visualization coupled with powerful search, segmentation, and mapping features. SpectrumOne allows data to be quickly enabled and operationalized, driving activities from customer communication to data science supporting business analysis, strategy, and growth. All of which can be enabled the same day with immediate results. SpectrumOne's headquarter is based in Stockholm, Sweden, responsible for Nordic sales and strategy, with additional sales and business development located in Norway, Finland and Belgium.  SpectrumOne is listed on Nasdaq First North Growth Market in Stockholm.

www.spectrumone.com

https://news.cision.com/spectrumone/r/spectrumone-continues-to-execute-on-its-strategic-direction---divests-its-shares-in-bizwell-sweden-a,c3978229

(c) 2024 Cision. All rights reserved., source Press Releases - English