Družstvo Balder becomes the sole owner of DCIT, s.r.o.

At the beginning of April 2004 Telenor Satellite Services AS, the majority shareholder of DCIT, s.r.o., transferred its ownership interest to its minority partner, Družstvo Balder.

Družstvo Balder (Cooperative Balder) whose membership comprises company management and other staff has purchased the majority ownership interest with the intent to carry out independent strategy in the branches covered by DCIT products: the provision of integrated software solutions for media, consultancy services and audits in the areas of information security and quality management.

DCIT management perceives the independent position as an opportunity for flexible adaptation to the needs of the newly open European market. DCIT, a long-time exporter of software solutions whose annual turnover in 2003 exceeded 40 mil. Kč, is geared for expansion of its European operations in all its business lines as well as for enhancing the cooperation with its partners in the CE region.

The Managing Director Jan Pavelka comments on the transfer: "DCIT is managed by a dynamic and purposeful team, which is very keen on increasing the performance of the company and its individual divisions. I believe that this step increases the potential of DCIT in the wide market for quality products and services which has just opened for Czech companies. At the same time I am sure that our long-term participation in the Telenor Group has created a solid foundation for future cooperation on new projects and continued special relationship. I assure our clients, partners, and employees that DCIT will remain true to its principles of transparent and honest cooperation."