ASIAKASTIETO GROUP PLC, STOCK EXCHANGE RELEASE ON 24 SEPTEMBER 2018 AT 8.00 A.M. EEST
Asiakastieto Group has now finalized the negotiations with employee representatives for the new organisation
The combination of Asiakastieto Group Plc (“Asiakastieto”) and UC AB (“UC”) was completed at the end of June 2018. The new Asiakastieto Group is now in a process of creating a new strong Nordic organization for future digital services and data innovations. As part of this process the negotiations with employee representatives needed according to the Finnish and Swedish legislation have now been finalized. The planned gross headcount decrease is done in accordance with the stock exchange release issued on 14 August 2018 and the internal implementation of the new organization will start. Asiakastieto Group will work within the new organization from 1 October 2018.
The criteria for the new organization
The criteria for the new organization has been to create a fully integrated Nordic company with well defined roles and mandates, but also clear interfaces for support and co-operation. There will be a matrix organisation structure with Business Areas and Functional Units, the P/L responsibility lying with the Business Areas. Another criterion has been to centralize all operations as much as possible and to create a low organization structure, with maximum four layers including CEO.
Based on Asiakastieto’s preliminary integration synergy assessments, as well as further assessments to identify synergy opportunities, the combined company is estimated to achieve annual synergies of at least EUR 17 million expected to be implemented in full by 2021. The actions planned regarding the organization are one part of realizing the cost synergies.
ASIAKASTIETO GROUP PLC
Additional information:
Jukka Ruuska
CEO
Tel. +358 10 270 7111
Distribution:
Nasdaq Helsinki Ltd.
major media
investors.asiakastieto.fi
Asiakastieto Group is one of the leading providers of digital business and consumer information services in the Nordic countries. The Group’s products and services are primarily used for risk management, finance and administration, decision-making and sales and marketing purposes. We are operating in Finland under the brand Suomen Asiakastieto and in Sweden under the brand UC. Asiakastieto and UC combined on 29 June 2018. Our pro forma annual net sales for 2017 was EUR 130 million and the number of employees was approximately 500. The Group serves several industries, the largest ones including finance and banking as well as wholesale and retail sectors and expert service companies. Asiakastieto Group is listed on Nasdaq Helsinki with the ticker ATG1V. More information about Asiakastieto Group is available at www.asiakastieto.fi and www.uc.se.
—
This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Asiakastieto Group Oyj via Globenewswire