Basware streamlines operations

Basware streamlines operations

Basware Corporation stock exchange release, December 29, 2011 at 15:00

Basware focuses more strongly on service business and therefore the company
streamlines operations and reduces the number of personnel in all functions and
in all locations excluding Automation Services function and Indian branch
office. The arrangement affects approximately 30 persons. The reduction is
intended to be carried out primarily by making offers to support voluntary
resignations. The company will present the voluntary resignation offers
individually to the persons concerned during January 2012.

Due to this arrangement Basware books restructuring costs of approximately EUR
1.2 million in the fourth quarter of 2011. On an annual level the arrangement is
estimated to bring cost savings of approximately EUR 2.1 million.

More information:
Esa Tihilä, CEO, Basware Corporation
Tel. +358 40 480 7098

www.basware.com

Distribution
NASDAQ OMX Helsinki Ltd
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