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Tuesday, 10 October 2017

Enfo and Administer partner up within financial process services


Enfo and Administer partner up within financial process services

Administer Oy, specialized in electronic financial management services, acquires the majority stake of Enfo's subsidiary Enfo Partner Oy, which provides financial business process outsourcing services.

After the transaction, Enfo has a less than 20 percent stake in the company. Administer and Enfo have agreed on broad cooperation.


"This cooperation strengthens Administer's position as one of the major players in the field of financial management. We are excited about the opportunity to gain new expertise especially in enterprise resource planning systems and the needs of energy companies. Following the transaction, Enfo Partner will take into use the new name Administer Partner. We will focus especially on medium-sized and big companies," says Administer's CEO Peter Aho.


"Enfo and Administer will have many common clients and our cooperation will be broad. Administer, which is specialized in financial management services, has a great position for developing financial services. Enfo, on the other hand, will focus on producing IT services, supporting our customers in developing new innovative digital business solutions," says Enfo's CEO Arto Herranen.


Enfo has also outsourced its own financial administration, both in Finland and Sweden, to Enfo Partner earlier this year.


Enfo Partner employs some 50 people in Espoo, Kuopio and Kajaani in Finland. Administer's 300 financial management professionals serve customers in 20 cities around Finland. Administer aims at helping customers to focus on increasing their business and profitability by digitalizing financial management.


The parties have agreed that the sales price will not be disclosed.


For additional information, please contact:

Enfo Oyj, Arto Herranen, CEO, +358 44 719 3000, arto.herranen@enfo.fi

Administer Oy, Peter Aho, CEO, +358 40 501 3661, peter.aho@administer.fi


Enfo - Simpler, smoother and smarter business in the Digital Dimension (www.enfogroup.com)

Enfo is a Nordic IT service company offering business solutions and managed IT services. Our passion is helping customers in the digital dimension by creating innovative digital solutions that develop, innovate and improve our customers' business. In 2016, Enfo's turnover was EUR 128 million. Enfo employs approximately 900 niched experts.


Administer Oy (www.administer.fi) is a forerunning Finnish company specialized in electronic financial management services. Founded in 1985, the company is one of the largest financial management service providers in Finland. The company employs some 300 financial management professionals, and its over 3,000 customers represent a wide range of companies from publicly listed companies to one-person consultancy agencies in different sectors. Administer frees customers' time for profitable business by making financial management paperless and real-time. In addition, Administer offers high quality CFO and controller services with decades of experience. Administer operates in the whole of Finland.


This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of Nasdaq Corporate Solutions clients. Source: Enfo, PL 1582, Kuopio 70461, Finland
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