Acquisition of XOR Group AB (SE) by Visma ASA (NO) — SEK 48.5 million plus 800,000 shares in Visma

Carnegie acted as adviser to Visma Software in the cross-border acquisition of XOR Group. The Visma Group, quoted on the Oslo Stock Exchange, comprises two divisions, Visma Software and Visma Services, which are active in the development and quality assurance of services, software, software technology and knowledge, financial control and accounts. Acquisition value amounted to SEK 119 million. February 2004.