Media release
Financial transactions company, Itella Information, has signed a deal with Norway Post about acquiring full ownership of Itella Information AS in Norway. Itella Information provides services for financial transactional processes from the management of purchase and sales invoices to the complete outsourcing of finance and accounting services. Itella Information and Norway Post established a joint venture in spring 2008. In the joint venture, Itella owned 51 percent and Norway Post 49 percent of Itella Information AS. Norway Post employees in the field of information logistics became part of Itella Information when the joint venture started. With the joint venture, Itella strengthened its position on the Norwegian market, especially in the purchase invoice processes.
- Itella Information's focus is more and more on the whole process of financial transactions - from the purchase to pay area to the efficient sending of invoices and to all financial transactional processes like accounts receivable, accounts payable, travel expenses, payroll, payments, asset accounting, general ledger and reporting. The joint venture with Norway Post was an important part of our strategy, says Senior Vice President Heikki Länsisyrjä from Itella.
- Norway Post has been very pleased with our joint venture with Itella Information AS. We believe that selling us off is a good solution for the company in relation to our strategy and further development, says Director Tone Willie from Norway Post.
By acquiring the full share of the company, Itella Information aims to become a leading player in services related to the financial transactional processes in Scandinavia. With a background in invoice processes, Itella Information is using automation, industrialization, volume advantages and a wide European presence to make customers' financial transactions cost effective, quicker and smoother with fewer mistakes.
Itella Information operates in 15 European countries and, with the partner network, also North America. Itella Information is part of the Itella Group, owned by the state of Finland.
For further information, please contact
Itella Information AS, Managing Director Per Olov Sjøgren, per.sjogren@itella.com
Norway Post AS, Communication Manager Jørn Michalsen, jorn.michalsen@posten.no
Itella Information enhances the efficiency of financial information flows and leads the way in electronic invoicing in Europe. Services comprise solutions for the efficient processing of incoming invoices within the organization, and for the cost-effective sending of invoices, electronically or on paper. Itella Information operates in 15 European countries with a staff of about 2,000 professionals. Net sales in 2009 amounted to EUR 247 million. The Itella Information business group is part of the Itella Group. For further information, please visit www.itella.com
Norway Post is one of the biggest players in mail and logistics in the Nordic countries, with its headquarters in Oslo. The Group has two brands, Posten and Bring. The private market in Norway is serviced by Posten, and the business market in the Nordic countries is serviced by Bring.
The Group had revenues of approx. NOK 27 billion in 2009 and consists of approx. 24,000 man-years.
