AS XXL.EE

ANNOUNCEMENT

 

XXL.EE AND INFOPISTE OY SIGNED CO-OPERATION AGREEMENT

 

On 27.01.2000 AS XXL.EE Group and Infopiste OY concluded an 

agreement for establishment of joint venture, where AS XXL.EE owns 

49% and Infopiste Oy 51% stake.

 

The purpose of the joint venture is to create, develop and 

administrate the Estonian city-portal. Infopiste OY and XXL.EE 

became strategic co-operation partners last fall. The goal of the 

new joint venture is to realize the goals of Infopiste Oy in the 

Baltic countries and Eastern Europe, a part of the company's 

general strategic goal to become a leading portal developer in 

Europe. 

 

XXL.EE will be granted a right to fully exploit all Infopiste 

IT-solutions and trademarks in its development activities in both 

Estonia as well as neighboring countries.

 

Infopiste is one of the most technologically advanced portal 

developers in Europe. The company focuses on development of mobile 

internet solutions (WAP, UMTS). Having currently invested ca EEK 50 

million in development of portal technology, Infopiste plans to 

make at least EEK 300-400 million worth of additional investments 

within the next two years.

 

Infopiste currently administrates 7 portals, the largest of which 

is city-portal helsinki.net. The strategic goal of Infopiste is to 

create a chain of city-portals covering the whole Europe. The 

company is 80% management-owned; the remaining 20% stake is owned 

by CapMan investment fund. 

 

XXL.EE is an internet-based IT-company, focusing on development of 

portals and digital media solutions. XXL.EE's subsidiary 

Internetivärav XXL OÜ administrates the first Estonian internet 

portal XXL.EE.

 

 

Arho Anttila

Chief Executive

XXL.EE 

arho@xxl.ee

+372 628 3601

 

<a href='http://www.infopiste.fi' target='_blank'>http://www.infopiste.fi</a>

<a href='http://group.xxl.ee' target='_blank'>http://group.xxl.ee</a>