The Norwegian authorities approve TietoEnator´s purchase of Ementor Financial Systems
The Norwegian authorities approve TietoEnator´s purchase of Ementor Financial Systems The Norwegian Ministry of Trade and Industry approves TietoEnator´s take- over of Ementor Financial Systems from Merkantildata. The deal was announced on February 14 and means that TietoEnator acquires 100 % of the shares in Ementor Financial Systems ASA (former Provida). The company, which is the leading provider of software solutions within the Norwegian banking and finance markets, will now become a part of TietoEnator Banking and Finance. The acquisition means that TietoEnator consolidates its position as the number one IT-partner for the banking and finance sector in Northern Europe. Ementor Financial Systems has 310 employees and had a turnover of approximately 42 MEUR (338 MNOK) in year 2001. Almost 50 percent of the business comes from outside Norway. On an international level, the company focuses on international banking solutions and core banking solutions for large and medium sized banks. Banking and finance is one of TietoEnator´s areas of focus on a global level. TietoEnator Banking and Finance operates in 12 countries with almost 2200 experts and over 350 customers worldwide. In addition to Internet banking solutions, TietoEnator Banking and Finance also commands strong expertise in payment solutions and selected capital market solutions. For more information, please call: TietoEnator: Veli Pohjolainen, Senior Executive Vice President, +358 9 8626 0670 Terje Haug, Managing Director, Ementor Financial Systems AS, mobile +47 911 69 381 With almost 11,000 employees and annual net sales of EUR 1.1 billion, TietoEnator is a leading supplier of high value-added IT services in Europe. TietoEnator specialises in consulting, building and hosting its customers' business operations in the digital economy. The Group's services are based on a combination of deep industry-specific expertise and latest information technology. www.tietoenator.com TIETOENATOR CORPORATION DISTRIBUTION Helsinki Exchanges Stockholm Stock Exchange Principal Media ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/03/19/20020319BIT00370/wkr0001.doc http://www.waymaker.net/bitonline/2002/03/19/20020319BIT00370/wkr0002.pdf