Personec and Tradimus join forces, creating the leading supplier in IT-driven BPO

April 2007

Two leading Nordic providers of business process outsourcing and business support systems, Personec and Tradimus, intend to merge into one company. The new company, will be the largest supplier of IT-driven business process outsourcing services and IT solutions in customer service, financial management, document automation, HR management and logistics in the Nordic market with over 4,000 full time employees in seven countries and a turnover of EUR 350 million.

"Joining forces creates a clear market leader in the Nordic region and a company that combines skills which will help our customers enable business process transformations," says Mats Winkler, the new CEO of the new company, today CEO of Personec. "The Nordic market is fundamentally attractive for business process outsourcing and related IT solutions and grows at a pace of between 5% and 10 % in all sectors. Both companies, Tradimus and Personec, are already very strong in their fields. Tradimus is the leading supplier of outsourcing services within customer relations management, logistics, document automation and financial management based on industrial methodology. Personec is the market leader in outsourcing and consulting services within payroll and human resource management as well as in IT solutions for business support. Together we can offer a full range of services and solutions to our customers and help our customers to utilise IT more effectively in their processes."

"We see that the IT expertise and experience of Personec together with their leading position as a provider of consulting, software and services for human resources and financial management fit perfectly with the competences of Tradimus," says Niklas Wakéus, CEO of Tradimus. "We will now focus on building one Nordic company where activities are performed in a standardised way across the group. This means that we will achieve economies of scale and capture further efficiency improvements to better support our customers and strengthen our competitive position. Since there is no significant overlap between the two businesses the impact of the merger on the business areas are expected to be very limited," says Niklas Wakéus.

"By merging Personec and Tradimus we take full advantage of our industrial knowledge and present ownership structure in the two companies by consolidating and creating a strong and competent BPO-player for the European arena," says Roger Holtback, chairman of the board of the new company.

The merger is planned to take place during the second quarter of 2007.

The majority of both companies are owned by Nordic Capital Fund V.

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