Itella Corporation Stock Exchange Release June 23, 2011, at 10:30 AM
Itella Group acquires the entire capital stock of OpusCapita Group Oy, based in Tampere, Finland. The firm is specialized in the automation of cash processes and has 134 employees in Helsinki, Tampere, Stockholm and Copenhagen. OpusCapita will be part of Itella Information business group.
The services of Itella Information cover entire financial management of customer companies from purchase to pay, order to cash and to as the most extensive option, the entire financial management and payroll. The offering of OpusCapita will strengthen Itella's competence in financial management processes. As a result of the transaction, Itella will be capable of providing its customers with innovative added-value services related to the automation of financial management processes.
- The transaction supports OpusCapita expansion in Europe. The vision of OpusCapita is to set a European example in cash flow automation, says Kari J. Mäkelä, CEO of OpusCapita Group Oy.
- Itella Information improves the efficiency of our customers’ financial and accounting processes such as purchase to pay and order to cash. OpusCapita's expertise in the automation of financial management and financing is an excellent addition to Itella's competitiveness as an innovative financial management outsourcing partner who provides added value, says Heikki Länsisyrjä, Senior Vice President of Itella Group.
OpusCapita's customer base includes over 50% of Finland's TOP 200 companies as well as thousands of companies and organizations in Scandinavia. Itella Information has approximately 10,000 customers in Europe.
The net sales of OpusCapita in 2010 was almost EUR 17.5 million. The company is privately owned. Itella Information is part of Itella Group.
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About Itella Information
Itella Information offers financial process innovation as a service. Itella improves the efficiency of financial and accounting processes such as purchase to pay and order to cash with ready-made and modular best practice processes. Itella has the necessary transaction volumes to enable scaling effects, automated and industrialized processes and the innovation competence to make financial transactions management flexible and effective. 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
With nearly 30 years of experience in cash management solutions OpusCapita helps organisations to become more agile and efficient by automating financial processes. OpusCapita’s customers include almost 2,000 companies and public sector organisations in the Nordic countries and the software is used in more than 50 countries. OpusCapita is the European benchmark in cash flow automation investing significantly in R&D and developing the most user-friendly finance software in the world. OpusCapita employs 130 financial management and IT professionals in Finland, Sweden and Denmark. In 2010, the turnover was nearly €17.5 million. OpusCapita was established in 1984 and is in private ownership. www.opuscapita.com