Basware Corporation ('Basware') has today signed an agreement whereby Basware purchases the Norwegian invoice automation solution business of Itella Information AS ('Itella'). The business operations primarily consist of regularly charged Software as a Service (”SaaS”) business, and its technological platform is Basware's Invoice Processing product. Itella's operations employ five people, who will join Basware in connection with the acquisition. The purchased business unit has approximately 60 end customers in Norway.
Itella Information continues to offer services in the field of inbound and outbound invoicing in Norway. In spring 2008 Itella and Norway Post launched a joint venture where the information logistics operations of both companies where gathered to Itella Information AS. Itella owns 51 % of the joint venture and Norway Post 49 %. The aim of the joint venture is to make Itella Information AS into the leading information logistics company in Norway.
"The acquisition strengthens our position in the Purchase to Pay market in Norway and expands our current EPP Automation Services service offering locally. The transaction gives us valuable expertise to improve our competitiveness," reports Ilkka Sihvo, CEO, Basware Corporation.
”Itella Information offers solutions for the invoicing processes and financial management in Europe. Software and programs related to the services are not on our core competence area. We continue to offer and develop services related to invoicing, on paper and electronically in Norway,” says Managing Director of Itella Information AS Per Olov Sjogren.
For more information, please contact
Managing Director Per Olov Sjogren, Itella Information AS, tel. +4790848340
