SYSOPEN DIGIA PLC BUYS SAMSTOCK LTD
SysOpen Digia Plc STOCK EXCHANGE RELEASE 26 April 2006 at 09:00 am
SYSOPEN DIGIA PLC BUYS SAMSTOCK LTD In an acquisition today, SysOpen Digia Plc bought the entire share capital of Samstock Ltd, a financial software company. With this acquisition, SysOpen Digia continues to strengthen its operations in the financial sector in Finland and Nordic countries in accordance with its strategy. The acquisition will significantly enhance SysOpen Digia's product and solution offering in this market segment. Samstock Ltd is a leading financial software company. The company's main product areas are asset management and private banking, securities trading back-office, mutual funds management and custody operations. The company's customers are banks, brokerages and investment fund companies, as well as institutional investors in the Nordic countries. Samstock has premises in Jyväskylä and Helsinki in Finland, and Stockholm, Sweden. Net sales of the Samstock Group (including the subsidiaries Samstock AB and Finansium Ltd) in the accounting period 1 April 2005-31 March 2006 was EUR 4.3 million with a slight loss of EUR 0.1 million for the period due to investments in product development and one-off items. Samstock has 56 employees. During the current accounting period the company expects its net sales and profitability to increase significantly. This is due to a recently-released new generation of products, and new projects and customer relationships. The total price of the acquisition is EUR 5.1 million, which is paid in cash. The main owners of Samstock were Juha and Raija Kainulainen, Eqvitec Technology Fund 1, and the company's CEO Juha Leinonkoski. Samstock's operational management and other key staff members will continue to work for the company. "Thanks to its products and expertise, Samstock is an excellent strategic and business fit for SysOpen Digia. The deal will significantly enhance our product and solution offerings in the financial sector, bringing us important new customer relationships in Finland and Northern Europe," commented Ari Kemppainen, Senior Vice President of SysOpen Digia's Integration Division. "As a part of the SysOpen Digia Group, Samstock has an excellent opportunity to develop its business and participate in significant, large-scale customer projects in Northern Europe. The products and services of the two companies complement each other excellently," enthused Juha Leinonkoski. Additional information on the acquisition will be provided to analysts and the media in association with the release of SysOpen Digia's 2006 first quarter interim financial report on Thursday, 27 April 2006, at 11:00 am in the Espa Room (first floor) at Scandic Hotel Simonkenttä, Simonkatu 9, Helsinki. All are welcome. SYSOPEN DIGIA PLC Jari Mielonen CEO Additional Information: Ari Kemppainen, Senior Vice President, Integration Division, SysOpen Digia Mobile telephone: +358 40 541 6456 email: ari.kemppainen@sysopendigia.com Juha Leinonkoski, CEO, Samstock Mobile telephone: +358 40 8422 810 email: juha.leinonkoski@samstock.com DISTRIBUTION Helsinki Stock Exchange Key media