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Itella Information entering the German business process outsourcing (BPO) market with acquisition of NewSource GmbH

22.03.2011

Itella Information is acquiring NewSource GmbH in Hanover Germany. NewSource, one of the leading providers of BPO services in Germany, is specialized in finance and accounting. NewSource is part of the investment portfolio of the v.Nordeck Group. With its entry into the Germany BPO market, Itella Information is taking an important step towards becoming the European market leader in financial transaction processes. With NewSource, Itella is now able to offer the entire service chain for financial management.

"With NewSource, Itella Information will become an important player on the German market for the entire field of finance and accounting. Itella Information now has a comprehensive range of services that enables us to conduct the entire transaction business for medium-sized enterprises in Germany," comments Heikki Länsisyrjä, Senior Vice President of Itella Group.

v.Nordeck-Holding CEO Michael P. Sarp adds,

"With NewSource, Itella Information is able to gain a foothold in the German market. At the same time, NewSource has an opportunity to continue its dynamic development. The fact that its parent company operates in a similar industry and that its range of services is being extended provides the company with completely new avenues for expansion. Itella Information is the ideal partner for us to continue on NewSource's previous path of success."

Itella Information history lies in invoicing processes and the company has a great deal of experience in the industrialization and automation of purchase to pay and order to cash processes. The company operates in 15 European countries. The Itella Group with its 29,000 employees generates a turnover of approx. EUR 1,842 million in 2010.

v.Nordeck Holding is an investment company that has specialised in the acquisition and development of well-managed family businesses that are looking for a long-term solution to their succession problems. The portfolio of v.Nordeck Holding includes the underwear producer Zimmerli AG in Aarburg (Switzerland), Fritschi AG in Reichenbach (Switzerland), a world-market leader in the manufacture of touring ski bindings and Hedwigsburger Okermühler in Kissenbrück (Germany).

For more information, please contact:

Senior Vice President, Heikki Länsisyrjä, Itella, heikki.lansisyrja@itella.com

CEO Michael P. Sarp, v.Nordeck-Holding, michael.sarp@vonnordeckholding.com