The remaining shares in VAI B.V. of the Netherlands (those shares still held in an employee foundation) were transferred to BRAIN FORCE HOLDING AG today, bringing the shareholding ratio to 100 percent.
The BRAIN FORCE group has already started building a Europe-wide sales and distribution network for products only available in the Netherlands until now.
VAI solutions will be integrated into the product portfolio in the core BRAIN FORCE group countries of Germany, Italy and Austria; the solutions will also enable the group to break into new markets. A sales and distribution network for eastern Europe, which will make use of indirect distribution channels, will be constructed on the basis of the branch office already established in Prague.
The BRAIN FORCE group also plans to market the VAI solutions in northern Europe through sales partner companies.
We expect the turnover generated with these solutions (EUR 8.2 million in 2004) to multiply within two years.
The BRAIN FORCE group has already started building a Europe-wide sales and distribution network for products only available in the Netherlands until now.
VAI solutions will be integrated into the product portfolio in the core BRAIN FORCE group countries of Germany, Italy and Austria; the solutions will also enable the group to break into new markets. A sales and distribution network for eastern Europe, which will make use of indirect distribution channels, will be constructed on the basis of the branch office already established in Prague.
The BRAIN FORCE group also plans to market the VAI solutions in northern Europe through sales partner companies.
We expect the turnover generated with these solutions (EUR 8.2 million in 2004) to multiply within two years.