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
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 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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