Axis sells its shareholding in Netch Technologies AB

Axis Communications is selling its shareholding in Netch Technologies AB. This measure is part of the move to focus on core operations.

"After having carried out a restructuring of its business, Netch will continue to develop together with a new principal shareholder with an internationally established business in the industry. Selling the shares in Netch is logical since possessing them is no longer of strategic importance", says the CEO of Axis, Peter Ragnarsson.

Purchasing the shares is Wapplay AB, a company controlled by Torbjörn Stenkula and family. Wapplay AB is a joint owner of EDGE Mobility AB (www.edgemobility.com), a company involved in areas such as consultancy within the Internet and Mobile Internet fields. The sale of the shares, which has been calculated to have a positive effect on the Group's profit and loss account, will be reported in the Axis half-year report, which is being published on August 20, 2001.

About Axis
The Axis Communications Group, with the parent company Axis AB is a leader in network connectivity and emerging wireless Internet-based services. The company is at the forefront of developing network appliance solutions that enable people and organizations to get easy and immediate access to devices and services. Axis is one of the global leaders in several key thin server and network device markets, such as printer, storage and video connectivity, and is doing pioneering work in the rapidly expanding markets of wireless and mobile communications.
Founded in 1984, Axis employs more than 500 people worldwide, including the 59 percent owned subsidiary, Netch Technologies. Axis is headquartered in Lund, Sweden and has a total of 20 offices throughout Europe, North America and Asia. Axis is listed on the Stockholm Stock Exchange.
Information about Axis can be found at http://www.axis.com

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