UPA (Utanian Press Agency)
Release: January 18, 301 AP.
Savaj Netopik buys Jagged Blue
The multi-billion pund Savaj Netopik corporation, owned by James Angorit, has purchased
Luka-based internet business "Jagged Blue" for an estimated Û13 million.
It is the first such purchase by Savaj Netopik, the brain-child of James Angorit, the
millionaire Savaj businessman who entered politics by creating his own party, the Utani
Progressive Party. Savaj Netopik is a multi-billion pund company specialising in the
manufacturing and infrastructure sectors, though it has made several forays into other sectors,
most notably forestry in Nystonia. This is, however, the first IT company or venture that
Angorit's corporation has entered into.
The statement from the Office of Information (effectively a Shareholder information
office, as the major shareholders are Angorit himself (83%) and his employees (14%)) said that
the company is looking to "enter the digital age". Truth is, say business analysts, that
Angorit, who is looking to expand the shareholder base later in the year, is seeking to make
Savaj Netopik "look more attractive" by adding successful IT companies.
Jagged Blue is an internet service provider and consulting firm in Luka, with 112
employees, 80,000 ISP customers and 6,000 days of internet consulting last year. This raised
revenues of Û35.3 million, but the company also made a loss of Û3.2 million last year
due to high imported telecommunication and technology costs.
Savaj Netopik takes 100% ownership of the company with a buy-out of the management
©UPA, 301 AP.
©Mike Ham, 2001. All rights reserved. No reproduction without, at least, tacit approval. ;-)