Nieuwegein, the Netherlands, 20 April 2011
Ordina announced today that it has sold Finext, a wholly owned subsidiary. The
company has been acquired by about 70 professionals working at Finext. Both
parties signed an agreement to this effect. With the sale, Finext has become a
fully independent entity. All shares in Finext were transferred today. The sale
of Finext was prompted by Ordina's strategic choice to focus fully on its core
activities in the areas of consulting, ICT and outsourcing.
Finext specialises in making tangible improvements to its customers' financial
functions. Finext has about 110 employees. Its revenue for 2010 stood at EUR 14
million; recurring result for 2010 was slightly positive. The transaction will
take place based on the situation of 1 January 2011. The selling price was
approximately EUR 4 million. The book gain on the transaction will stand at
about EUR 2.6 million.
Ordina decided to sell Finext as a result of the further fine-tuning of its
strategic course and its focus on consulting, ICT and outsourcing services. The
decision to sell Finext was driven by the lack of synergy between Finext's
specialist services and Ordina's core activities. With Finext becoming an
independent entity, Ordina further fine-tunes its profile, while offering Finext
a solid foundation for further growth in line with its own strategy. With the
sale of Integer and Ormit in 2010, and the present sale of Finext, all of the
associates of Ordina have become independent.
Ordina is a specialist knowledge provider. Our coherent offering of consulting,
ICT and application outsourcing services helps lay the foundation for our
clients' future success. Ordina assists clients in achieving their strategic
targets, and resolving social and ethical issues. Our knowledge of the local
market and business processes, combined with our inventive approach to ICT
solutions, enables clients to boost their competitive ability and their
strength. Our professionals, who work in multidisciplinary teams, forge close
ties with clients. We provide our services in the Benelux to organisations
operating in finance, the public sector, healthcare and industry. Ordina N.V.
was incorporated in 1973. Its shares are listed on Amsterdam's Euronext Stock
Exchange, where they are included in the Midkap Index.
Making tangible improvements to customers' financial function is what drives
Finext consultants. Customers ask Finext for advice and support in improving
their governance, controlling costs, creating transparency and managing risks.
The unique structure of the organisation offers true professionals all the scope
they need to fulfil their full potential. This creates commitment, creativity
and entrepreneurial spirit, helping us to deliver quick results for every
Tel: +31(0)30-663 7402
The following professionals would be happy to provide further information: Frank
Fondse, Benno van Ingen, Martijn Meuling, Monica Harmsen and Ton Janssen.
Tel: +31 (0)70-300 3000
Press Release - Ordina announces sale of Finext:
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Source: Ordina via Thomson Reuters ONE