EVRY acquires TAG Systems Finland OY
(Thomson Reuters ONE) -
(Oslo, 5 November 2013) EVRY ASA has agreed to purchase all the shares in TAG
Systems Finland OY, which is the leading card personalisation company in Finland
and the Baltic States. Through this acquisition, EVRY will strengthen its
geographic coverage of the North European card services market, while at the
same time gaining access to leading edge expertise in card technology and mobile
payments.
"The acquisition of TAG Systems Finland OY is an important strategic step that
strengthens EVRY's position in the rapidly growing card services market. At the
same time, the acquisition gives EVRY a platform for further growth for the
company's other banking and finance solutions in Finland and the Baltic States",
comments Terje Mjøs, CEO of EVRY.
Sound foundation for further growth
EVRY has built up a profitable card services business over recent years and now
serves customers in the Nordic countries and the United Kingdom. EVRY has
historically carried out a number of acquisitions of companies in the card
services area that have helped to strengthen profitability, and have built a
broadly-based platform for faster organic growth.
The acquisition of the market leader TAG Systems Finland OY strengthens EVRY's
position for further growth throughout the Nordic region and the Baltic States.
EVRY sees potential for sound organic growth through scalable and high-
technology solutions that cover the entire value chain for the card services
area. In addition, the acquisition provides a good starting point for further
expansion in Northern Europe.
Following the acquisition, EVRY will deliver 20 million cards annually to more
than 70 card issuers in 12 countries from card personalisation centres in Mo i
Rana, Stockholm, Helsinki and Riga.
Well positioned for mobile payments
Personalisation of debit and credit cards plays an important role when financial
institutions offer customers secure payment services. Moreover, debit and credit
cards represent an important aspect of branding for banks. TAG Systems Finland
OY has developed advanced card personalisation centres in Helsinki and Riga. The
company is now preparing the launch of next-generation contactless cards for the
Finnish banking sector. The company is already delivering the next-generation
contactless cards for the Finnish banking sector and in progress of building the
fundament for mobile payment ecosystem. TAG Systems Finland OY and EVRY have a
long track record of successful cooperation servicing regional customers.
"Our in-depth expertise and extensive experience of card technology will help to
support EVRY's strategic ambition to be a partner capable of offering cost-
effective solutions for the entire card services value chain from card issuance
through to card payments. This will position us to provide services for the
largest customers in northern Europe", comments Jarmo Rouhiainen, CEO of TAG
Systems Finland OY.
About the transaction
EVRY has agreed to acquire 100% of the shares in TAG Systems Finland OY from a
group of industrial and private investors with effect from 25 November 2013.
TAG Systems Finland OY has 30 employees and annual turnover approaching NOK 70
million. Jarmo Rouhiainen will continue as the CEO of TAG Systems Finland OY.
TAG Systems Finland OY will become a major part of the EVRY Financial Services
segment.
Contact persons:
Terje Mjøs, CEO EVRY, Tel: +47 06500
Eli Giske, CFO EVRY, tlf +47 908 44 189
Geir Remman, VP Corporate Communications, EVRY. Tel: + 47 970 55 017
About EVRY
EVRY is one of the leading IT companies in the Nordic countries, with a strong
local and regional presence in 50 Nordic towns and cities. Through its
knowledge, solutions and technology, EVRY contributes to the development of the
information society of the future, and so creates value for the benefit of its
customers and for society as a whole. EVRY combines in-depth industry knowledge
and technological expertise with a local delivery model and international
strength.
EVRY has some 10,000 employees, and the company is committed to demonstrating
that Nordic customers are best served by a supplier that understands Nordic
business from the inside. EVRY reports annual turnover approaching NOK 13
billion. The company is listed on the Oslo Stock Exchange and operates from
headquarters at Fornebu in Bærum, with major activities in both the Norwegian
and Swedish markets.
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originality of the information contained therein.
Source: EVRY via Thomson Reuters ONE
[HUG#1740542]
Unternehmensinformation / Kurzprofil:
Datum: 05.11.2013 - 07:00 Uhr
Sprache: Deutsch
News-ID 312566
Anzahl Zeichen: 5503
contact information:
Town:
Oslo
Kategorie:
Business News
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