(Oslo/Helsinki, 29 March 2017) EVRY has signed a letter of intent and is in exclusive discussions to acquire Oy Samlink Ab, a leading vendor of IT solutions to banks in Finland. As part of these discussions, 50 banks currently serviced by Samlink would select EVRY’s core banking solution as their future banking platform. Joining forces, EVRY and Samlink’s ambition will be to expand its footprint in Finland.
Digitalisation and the rapid change in customer preferences and the increasing level of operational regulation, are reshaping the banking industry. Banks need to accelerate the modernisation of their banking platforms and to be faster to market with personalised and user-friendly banking services.
Gartner predicts that the market for IT-services and software for banks in Finland will grow by on average 5,9% per year, from EUR 627 million in 2016 to EUR 798 million in 2020. Together EVRY and Samlink would be in a stronger position to expand EVRY’s market-leading solutions into this fast-growing market. Partnering with Samlink would expand EVRY’s unique pool of fintech experts by 370 employees with in-depth IT knowledge to service the Finnish banking market.
“In a thorough process of selecting a core banking solution that would further strengthen our competitive position, we evaluated all leading technology providers and found EVRY to be an excellent alternative. Having assessed Samlink’s strategic options, we found partnering with EVRY would be a good strategic solution going forward. Bringing EVRY and Samlink together would provide greater scale and cost-sharing on a Nordic level to the benefit of all customers. The banks would also gain access to an innovative partner with strategic design thinking capabilities to create better customer experiences,” comments Pasi Kämäri, Chairman of Samlink’s Board of Directors.
“Our ambition is to create digital advantage for our customers by delivering relevant, customer-oriented and competitive solutions. Samlink has strong relationships with its customers and knows the Finnish banking market extremely well. Together with Samlink EVRY would strengthen its leadership position in providing core banking solutions for Nordic banks and increase our market presence in Finland, a market we see as very attractive”, comments Björn Ivroth, CEO of EVRY.
EVRY and Samlink are committed to offering high quality services and advanced digital solutions to both existing and new customers. A customer-centric core banking solution enables banks to respond more quickly to changes and to be more agile in taking new value-adding services to the market.
“EVRY has extensive experience in operating, developing and maintaining large business-critical IT systems. Together we would be able to provide Finnish banks with industry-leading solutions in areas such as core banking and payment services. Our joint industry expertise would enable us to further develop our relationships with customers in the Finnish banking market. The business outcome are solutions that are more customer-centric and cost-efficient”, comments Pentti Unkuri, CEO of Samlink.
“EVRY’s new core banking solution and long-term agreements with many Nordic banks have given us a solid base which Finnish banks also stand to benefit from. This investment in Finland would give us a stronger footprint across the entire Nordic region, with more than 200 banks on our list of customers and 1,600 employees with in-depth technological and domain expertise in the banking and finance market”, comments Wiljar Nesse, EVP and Head of Financial Services, EVRY.
About the letter of intent
EVRY has signed a letter of intent with Oy Samlink Ab to acquire the entire share capital of the company and is in exclusive discussions. A final agreement is conditional on gaining the necessary approvals in respect of the Competition Act and other normal terms and conditions. Samlink is currently owned by 50 banks, and its largest shareholders are the Finnish Savings Banks Group (Säästöpankkiryhmä), Aktia Pankki Oyj, Oma Säästöpankki Oyj, Handelsbanken, Posti Group Oyj and POP Banks Group (POP Pankki-ryhmä). The letter of intent does not include the PP-Laskenta Oy and Project-IT Oy subsidiary companies.
Björn Ivroth, CEO EVRY, Tel: +47 06500
Geir Remman, VP Corporate Communications, EVRY, Tel: +47 970 550 17
Pasi Kämäri, Chairman of Samlink’s Board of Directors, Tel. +358 500 688 222
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 9,000 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 has annual turnover of almost NOK 13 billion.
Samlink Group contains three companies: Oy Samlink Ab, Paikallispankkien PP-Laskenta Oy and Project-IT Oy. Oy Samlink Ab (Samlink) is an experienced service provider and developer of demanding IT solutions for the finance sector in Finland. We create cost efficiency and support the growth and development of our customers’ businesses with the help of information technology. Samlink employs about 370 professionals with broad range of expertise in information technology and retail banking solutions. Our revenue in 2016 exceeded 92 M€. Our largest customers include Finnish Savings Banks Group, Handelsbanken Finland, Oma Säästöpankki and POP Banks Group. www.samlink.fi
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