NorCom Information Technology AG examines possible conversion of the legal form into a KGaA

The Management Board of NorCom Information Technology AG is currently examining a possible conversion of the legal form of the company from an AG to a GmbH & Co. KGaA. The new legal form should sustainably secure the continuation of the long-term growth strategy of the company and best combine the possibilities of a capital-market-oriented company with the advantages of a family-owned company.

CEO Viggo Nordbakk: "This legal form is intended to serve NorCom as a shield against unwanted and uncontrollable takeovers. We are on the threshold of a completely new and, following the experience of 2017, a very successful phase in our corporate development. In order to combine the expected strong growth with the greatest possible self-determination, we will choose this path while remaining 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 a new core business around Data Science, Artificial Intelligence and Deep Learning. The first major successes came in the last year: NorCom was able to win over international groups as customers for the software products DaSense and EAGLE. NorCom strives to work closely with partner companies to successfully market its products worldwide. In order to be open to possible partnerships and at the same time pursue the chosen path independently and thus ensure the success achieved for the company and its employees, NorCom aims to convert it into a GmbH & Co. KGaA.

 "Although we are a relatively small company, we are competing in the contract award with major international corporations. Our visibility in the market is growing steadily. We have many committed and indispensable long-term employees who have been working hard for the successful repositioning of NorCom over the past few years. With a KGaA, we all have the security of preserving our company in the existing form - while at the same time opening up the global market and its potential, "says Viggo Nordbakk.

"As the managing director of the new company, I would still strive to always make the 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 conversion still requires the approval of the shareholders to be obtained at this year's Annual General Meeting. The Annual General Meeting of NorCom Information Technology will take place on 03 August 2018.