FOREX Bank enters into a strategic partnership with EDB
(Thomson Reuters ONE) - (Oslo, 25 August 2009) EDB has entered into a preliminary agreementwith FOREX Bank AB to supply banking services and to take over theoperation of the bank's IT solutions. The agreement runs for 5 years,and represents total contract value of around NOK 200 million."This agreement is strategically important for EDB, and represents aservice delivery model that is an important area of focus for us. EDBwants to be a driving force in promoting software as a service in theSwedish market. The agreement with FOREX Bank confirms that EDB's software as a service model is already competitive in today'smarket", comments Wiljar Nesse, Executive Vice President - Bank &Finance at EDB."The crucial factors for FOREX Bank when choosing our supplier werecost-efficient solutions and speed to market. Our collaboration withEDB will give us access to competitive solutions and reliableoperations, and this will allow us to focus on our core activities",comments Magnus Cavalli Björkman, Managing Director of FOREX Bank.The final agreement is expected to run for 5 years, and representtotal contract value of around NOK 200 million. The agreement alsoprovides for EDB to take over 5-10 employees.Software as a serviceThe preliminary agreement provides for EDB and FOREX Bank to worktogether to prepare the implementation of the transformation processand transfer of FOREX Bank's IT services. The overall objective isfor EDB to provide a complete portfolio of solutions, together withoperating services, as a service delivery for FOREX Bank ('softwareas a service'). EDB will also provide interfaces between itssolutions and the Swedish banking system's infrastructure.For further information, please contact:Wiljar Nesse, Executive Vice President - Bank & Finance, EDB. Tel:+47 934 48 116Kristian Kuvaas Johansen, Executive Vice President and ChiefFinancial Officer, EDB. Tel: + 47 476 03 334Geir Remman, Executive Vice President - Corporate Communications,EDB. Tel: + 47 970 55 017About FOREX BankFOREX Bank has been a market leader in currency exchange fortravellers since 1965. Since mid-2003, the bank has also offered anexpanding range of other banking services such as deposits, lending,payment services and cashier services, as well as credit and paymentcards.FOREX Bank operates from offices in 125 central locations throughoutthe Nordic countries and in England, and also operates over theinternet: www.forex.seAbout EDBEDB Business Partner is one of the leading IT groups in the Nordicregion. The company offers solutions for the full range ofbusiness-critical IT services. EDB aims to be a close and attentivepartner that leverages its deep industry knowledge and internationalcapabilities to help its customers realise the full potential of IT.The company has local presence in 13 countries, 6,200 employees andan annual turnover of around NOK 8 billion. EDB Business Partner islisted on the Oslo Stock Exchange.This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 25.08.2009 - 08:07 Uhr
Sprache: Deutsch
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