SYSOPENDIGIA EXPANDS TO RUSSIA BY ACQUIRING SUNRISE-R

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SYSOPENDIGIA Plc     STOCK EXCHANGE RELEASE      14.1.2008   

SYSOPENDIGIA EXPANDS TO RUSSIA BY ACQUIRING SUNRISE-R

SYSOPENDIGIA Plc (SYSOPENDIGIA) has today acquired all shares of a Finnish
software company Sunrise Resources Oy (Sunrise-r or the Company). Sunrise-r
operates in Russian near-shore development markets through its wholly-owned
Russian subsidiary and has 80% of its personnel in Russia. Sunrise-r is an
entry for SYSOPENDIGIA to the rapidly developing Russian software market. 

The sellers include Thomcapital Ltd and Sunrise-r's Founder and Managing
Director Mr. Joakim Kytölä as well as other minority shareholders. Mr. Kytölä
continues his duties in the Company. 

The acquisition price is EUR 3.60 million and is paid as cash consideration and
SYSOPENDIGIA finances the transaction through its cash reserves. In addition,
the sellers may receive an additional purchase price based on Sunrise-r
objectives for the year 2008. The maximum amount of the additional purchase
price is EUR 0.6 million, which may be paid either in cash or in SYSOPENDIGIA's
shares, as decided by SYSOPENDIGIA. 

TRANSACTION STRENGTHENS SYSOPENDIGIA'S MARKET POSITION AND OFFERING

The acquisition is part of SYSOPENDIGIA'S internationalisation strategy and
strengthens SYSOPENDIGIA's current services with qualified near-shore
development services as well as local support for customers operating in the
Russian markets. Additionally SYSOPENDIGIA will enlarge its activities in the
Russian markets with its current products and services. Sunrise-r's expertise
of many years in the Russian markets will be highly beneficial in that respect. 

“The services, customers and competence of Sunrise-r are bringing great value
to us. Russian engineering skills are highly respected within the software
industry. Sunrise-r fits extremely well in the professional culture of
SYSOPENDIGIA” says Mr. Tommi Laitinen, SVP Telecommunications in SYSOPENDIGIA.
“Russia is an obvious region for us to establish local operations, providing us
fast growing market potential, talented engineering skills and synergies with
our current customers. Sunrise-r is a pioneer company in software development
activities in Russia and is an excellent base for organic growth”, Laitinen
continues. 

“During the recent years Sunrise-r has been able to grow organically and serve
its customers with a high satisfaction level - this will continue also in the
future”, says Mr. Joakim Kytölä, Managing Director of Sunrise-r. “We
furthermore see the business opportunities in the growing Russian markets and
would like to utilize the great expertise we have in the company also in that
area. For that we needed a good partner. Of course we see the value for
Sunrise-r joining SYSOPENDIGIA from our customers' perspective: for our
customers this transaction will bring a wider range of services from a robust
and highly recognised partner in the software development industry”, Kytölä
continues. 

“I see the great potential in SYSOPENDIGIA - our services, products and skills
can be utilized in international markets in a much larger extent than so far.
Sunrise-r opens us the Russian market”, says Mr. Juha Varelius, new President
and CEO of SYSOPENDIGIA. “Sunrise-r is an excellent tool for us to boost our
organic growth also in new markets and engineering skills for our current
businesses”, Varelius continues. 

SUNRISE-R IN BRIEF

Sunrise-r revenues for 2007 were approximately EUR 2.4 million and operating
profit approximately EUR 0.6 million. The Company's revenues for year 2008 are
expected to exceed EUR 3.0 million and the Company employs currently over 50
software development professionals in St. Petersburg and in Jaroslaw, Russia,
and 10 in Helsinki. All employees will transfer to SYSOPENDIGIA Group with
their current terms. The 2006 balance sheet total of Sunrise-r was EUR 908
thousand. The company had intangible assets worth EUR 7 thousand, tangible
assets and investments worth EUR 338 thousand and current assets amounting to
EUR 563 thousand. The company had a shareholders`equity of EUR 709 thousand and
current liabilities of EUR 199 thousand. Currently the Company's net assets are
approximately EUR 1.0 million. The company does not have any long-term debt. 

 
SYSOPENDIGIA PLC 

Board of Directors


Additional Information: 

Juha Varelius, President and CEO
Mobile: +358 400 855 849
email: juha.varelius@sysopendigia.com

Tommi Laitinen, Senior Vice President
Telecommunications Division, SYSOPENDIGIA Plc
Mobile: +358 40 505 1324
email: tommi.laitinen@sysopendigia.com

SYSOPENDIGIA Plc is a modern and agile software company delivering ICT
products, services and technologies for its customers to improve their
competitive advantage - solutions for the needs of a transforming world. The
company is based in Finland, operating globally and employing over 1,200
professionals. SYSOPENDIGIA is listed on the Nordic Exchange. Further
information: www.sysopendigia.com 

DISTRIBUTION 
OMX Nordic Exchange Helsinki
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