Bangkok--Sep 19---PRIMEZONE MEDIA NETWORK
Intentia International AB (XSSE: INT B) today provided an update on the pending merger with Lawson Software, Inc. (Nasdaq: LWSN) announced on June 2, 2005. Bertrand Sciard, the president and CEO of Intentia, stated, "The two critical parts of the overall merger process are, first, the integration planning and, second, the regulatory filing and audit process. The integration planning is ahead of schedule. Both Harry Debes, the CEO of Lawson, and I have full confidence that we will be prepared to operate as a single company the day the merger is completed.
"The regulatory filing and audit process is still ongoing. The conversion of three years of Intentia's financial statements from Swedish accounting standards to U.S. GAAP in order for Lawson to complete its U.S. S-4 registration statement has been complex. The conversion is being completed as rapidly as possible. The Swedish prospectus for Intentia shareholders will be distributed once the S-4 becomes final."
Lawson Software yesterday stated that it expects to file its S-4 registration statement when this conversion and audit process is complete, with a target closing of the merger by December 31, subject to SEC review. In addition to the SEK 20.5 million in merger-related costs identified in Intentia's Q2 2005 interim report, SEK 28.4 million in merger-related costs were incurred in July and August.
Sciard concluded, "I am enthusiastic about the plans for the new company, and that the target for closing the merger remains on the original schedule."
About Intentia
Intentia is the only global enterprise solutions provider 100% dedicated to bringing software applications and consulting services to companies whose core processes involve manufacturing, distribution and maintenance-what we call the "make, move and maintain" market.
-100% of out resources are committed to this market.
-100% of out software is designed for this market.
-100% of out experience is in serving this market. End.