ASIAKASTIETO GROUP PLC, STOCK EXCHANGE RELEASE, 14 AUGUST 2018 AT 9.00 A.M. EEST
Asiakastieto Group Plc reorganizes its operations in both countries to gain efficiencies
Asiakastieto Group Plc (“Asiakastieto”) and UC AB (“UC”) completed their combination (the “Combination”) at the end of June 2018. Asiakastieto and UC are now in a process of forming one of the leading Nordic companies in digital services and data innovations.
Asiakastieto Group plans a reorganization based on the combination of Asiakastieto and UC. The new organization is planned to be integrated in order to increase efficiency in terms of business development, customer experience and cost efficiency. As a result of this reorganization Asiakastieto Group estimates as a whole during 2018 a gross headcount decrease of approximately 40 positions, of which a decrease of 11 has already taken place during the first half of 2018. The planned headcount decrease will be done in three different ways; natural retreat, offer for retirement and redundancies.
Asiakastieto Group will now initiate co-operation negotiations with employee representatives in accordance with local laws and regulations, and make the final decisions based on the outcome of these negotiations.
Synergies in total
The Combination is expected to create considerable shareholder value through sales, cost and recurring capex synergies. 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
tel. +358 10 270 7111
Nasdaq Helsinki Ltd
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 Sweden under the brand UC and in Finland under the brand Suomen Asiakastieto. 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 UC.se.
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Source: Asiakastieto Group Oyj via Globenewswire