Major administrative outsourcing venture in new company

Major administrative outsourcing venture in new company If, Skandia, Telia and WM-data are forming a jointly owned company for outsourcing of business support services. The company will offer total responsibility for organizing and supplying a full range of administrative services to its customers, enabling the client-companies to focus on their core businesses. The market for outsourcing business support services based on advanced IT support is growing rapidly in Sweden and internationally. An increasing number of players are evolving from their original roles as single service suppliers to a new status as multiple service suppliers. In order to rapidly take advantage of the opportunities that are emerging in this growing market, If, Skandia, Telia and WM-data are forming a jointly owned company. The new company's president and CEO will be Kristian Rothoff who joins from a position as President of Olsten in Sweden. His previous positions include Marketing Director of Falck Security, Sweden, and President of Viking Line in Scandinavia. Commenting on the new company, Kristian Rothoff says: "Demand for these types of services is growing in Sweden and abroad. This new company is the first of its kind in the Swedish market. We expect to achieve synergies swiftly and to be able to grow additionally in our dealings with existing as well as new customers. We aim to be a natural first choice as an outsourcing partner for service companies, especially new economy companies." By taking over its four owners' existing business support services companies, the new company will rapidly gain a broad range of products and services, and a solid customer base. The company will offer services in the areas of finance, human resources administration, cash management, office services, purchasing, and IT support, among others. The new company will take over Ackuratess Administration AB from If/Skandia, IN Good Company AB from Telia and WM-data Företagsservice AB from WM-data. The owners' ambition is that the new company will initially be a leading player in the business outsourcing market in Sweden. In a second step the company will also be able to follow its current and new customers into the Nordic and international markets. This is an entirely new type of company. This venture will enable If, Skandia, Telia and WM-data to further refine and focus on their core businesses, at the same time that they will now gain a distinct and visible value for the business support activities of the new company. The new company will have approximately 1,000 employees, of whom approximately 250 come from Ackuratess Administration, 600 from IN Good Company, and 150 from WM-data Företagsservice. Ownership in the new company will be structured as such that Telia and WM-data will each own 1/3, with If and Skandia owning 1/6 each. The ambition is to broaden ownership in the company at a later date. Marianne Nivert, Executive Vice President of Telia, comments: "With the powerful resources at its disposal, the new company will be able to further develop its current and future range of services. This will give us access to even more high-quality services at competitive prices from a single supplier - something that we would have had difficulty achieving internally." Ola Ramstedt, Executive Vice President of Skandia and Chairman of Ackuratess Administration, comments: "We believe that the new company has the potential to be a significant player not only in the Swedish market, but throughout the Nordic region as well. It will have a better opportunity to develop in its expansive segment and to attract new customers at a faster pace than what the constituent companies would have been able to manage on their own." Lars Harrysson, President and CEO of WM-data, comments: "Outsourcing IT functions has become common in recent years. Bringing in external suppliers of business support services is a natural development that has already gained great momentum, especially in the USA. With such strong partners working together, the new company will create attractive development opportunities in both the short and long term." The new, joint company will be formed out of the following companies: * Ackuratess Administration AB, whose business concept is to be a total provider of business support processes to its customers - based on strong IT support - in the areas of finance, cash management, human resources, IT services, office services and purchasing. Ackuratess was established in 1999 and has approximately 250 employees. Håkan Halén is president and CEO. * IN Good Company AB, which is a nationwide outsourcing company with expertise in the areas of payroll administration, human resources services, finance, telephony, workplace support, and archive and document management. IN has approximately 800 employees. Margareta Hansson is president and CEO. * WM-data Företagsservice AB, which was formed in 1998 to take responsibility for the WM-data Group's administrative services in the areas of purchasing, premises, office services, intranet, information, etc. The company has approximately 150 employees at several locations throughout Sweden. Anette Wesslén is president and CEO. For further information, please contact: Ola Ramstedt, Executive Vice President and Head of Human Resources, Skandia, tel. +46-8-788 31 03 Birgitta Hammarström, Press Manager, Skandia, tel. +46-8-788 27 55, or +46-70-378 27 55 Anders Bruse, President and CEO of AO Enterprises, Telia, tel. +46-8-707 52 45 Kjell Lindström, Head of Public Affairs, Telia, tel. +46-8-713 64 98, or +46-70-595 44 30 Leif Carlsson, Chief Financial Officer, WM-data, tel. +46-8-670 20 35 Crister Stjernfelt, Head of Corporate Communications, WM-data, tel. +46-8-670 20 55, or +46-70-320 26 00 Tom Rathke, Chief Financial Officer, If, tel. +46-8-788 32 25 Helena Dyrssen, Head of Corporate Communications, If, tel. +46-8-788 23 35, or +46-70-529 23 35 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/10/02/20001002BIT00410/bit0001.doc http://www.bit.se/bitonline/2000/10/02/20001002BIT00410/bit0002.pdf