Basware - Basware to Acquire Contempus AS from Affecto

Basware Corporation ('Basware') has today agreed on the accretion of the absolute allotment basic of Contempus AS ('Contempus') from Affecto. Contempus provides Purchase to Pay as able-bodied as Enterprise Content Management solutions.

The anchored accretion amount amounts to NOK 70 (approximately EUR 8.7) actor and added amount NOK 15 (EUR 1.8) actor at maximum. Both anchored and added amount will be paid in banknote on closing date. Basware affairs the accretion with a case loan.

The accretion is accountable to the approval of the Norwegian antagonism authorities and the transaction is accepted to be bankrupt in 2008, afterwards the all-important approvals from authorities accept been received. Basware will advertise added advice about the final accretion price, accepted synergy allowances as able-bodied as banking advice accompanying to the accretion on closing date.

Contempus was allotment of Component Software Group ASA which Affecto acquired in 2007. On June 30, 2008, Contempus had 55 advisers and a net banknote position of about NOK 17 (approx. EUR 2.1) actor and it is estimated that there has been no abundant change to those by the time of the acquisition. In 2007, Contempus generated acquirement of NOK 69.3 (approx. EUR 8.7) actor and EBITA of NOK 6.8 (approx. EUR 0.85) million. The advance of net sales in the aboriginal bisected of 2008 has been 28% compared with the aboriginal bisected of 2007.

Contempus has over 17 years of acquaintance in the development and accomplishing of cyberbanking certificate administration solutions and the operations are focused about its proprietary Contempus software products. The aggregation has account organisations that distribute, apparatus and advance the installations in Norway and Sweden. It has accustomed a new absolutely endemic subsidiary, Contempus UK Ltd, in 2008, confined both barter and ally in the UK. Furthermore, the aggregation has ally in the US and Benelux countries to awning all-embracing markets.

"The accretion strengthens Basware's position in the Enterprise Purchase to Pay markets in Norway, Sweden and the United Kingdom. Additionally, we will accretion admired ability to advance our competitiveness," says Hannu Vaajoensuu, Chairman of the Board, Basware Corp.

About Basware
Basware is the all-around baton in purchase-to-pay solutions with added than 1,200 barter and 650,000 users in over 50 countries about the world. Basware solutions automate business-critical banking processes and bear amount by accouterment acquiescence and control, as able-bodied as fast acknowledgment on investment. The solutions are broadcast and implemented in Europe, the US, and Asia-Pacific through an all-encompassing arrangement of Basware offices and business partners.

In 2007, net sales accomplished EUR 73 million. The advance ambition for net sales for 2008 is 15–25%. Founded in 1985, Basware Corporation is a accessible aggregation listed on the Nordic Exchange Helsinki. Headquartered in Finland, it has seven subsidiaries in Europe and one in the US. www.basware.com

Basware
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