NorCom Information Technology AG is examining a possible conversion of the legal form into a KGaA
05/17/2018
The board of directors of NorCom Information Technology AG is currently examining a possible conversion of the company's legal form from an AG to a GmbH & Co. KGaA. The new legal form is intended to ensure the continuation of the company's long-term growth strategy in the long term and to combine the possibilities of a capital market-oriented company with the advantages of a family business in the best possible way.
CEO Viggo Nordbakk: "This legal form is intended to serve NorCom as a kind of protective shield against unwanted and uncontrollable takeovers. We are on the threshold of a completely new and, according to our experience in 2017, very successful phase in our corporate development. In order to enjoy the expected strong growth with the greatest possible self-determination combine, we choose this path and at the same time remain open to entrepreneurial partnerships, for example in the form of joint ventures for joint go-to-market strategies, developments and projects. "
About five years ago, NorCom began building up a new core business area for everything to do with data science, artificial intelligence and deep learning. The first major successes were achieved last year: NorCom was able to win international groups as customers for the DaSense and EAGLE software products. In order to successfully market its products worldwide, NorCom strives to work closely with partner companies. In order to be open to possible investments by partners and at the same time to pursue the chosen path in a self-determined manner and thus to be able to secure the successes achieved for the company and the employees, NorCom is aiming to convert into a GmbH & Co. KGaA.
"Although we are a relatively small company, we compete with large international corporations when it comes to awarding contracts. Our visibility in the market is growing steadily. We have many committed and indispensable long-term employees who have worked intensively over the past few years to reposition NorCom successfully . With a KGaA we create the security for all of us to keep our company in its current form - and at the same time to tap into the global market and its potential ", says Viggo Nordbakk.
"As the managing director of the new company, I would still strive to always make decisions in the interests of long-term corporate success. Strategic investors and partner companies would continue to be given the opportunity to participate in the company," explains Nordbakk.
The proposal for the conversion still requires the approval of the shareholders, which is to be obtained at this year's annual general meeting. The Annual General Meeting of NorCom Information Technology will take place on August 3, 2018.