Swisscom Buys Financial IT Outsourcing Business
February 08 2013 - 4:05AM
Dow Jones News
Swisscom AG (SCMN.VX) Friday said its Swisscom IT Services
subsidiary has bought the information technology outsourcing
business of Entris Banking for an undisclosed sum.
MAIN FACTS:
- The deal is expected to be concluded by the end of March
2013.
- The move, will allow the Swisscom IT Services to expand its
banking expertise, will see the company acquire Entris Banking's
business platform, which is used by 41 banks to process their
banking transactions, from payment transactions, credit business
and securities trading to e-Banking.
- "The move paves the way for the Swisscom subsidiary to set up
an industrial processing centre with a view to positioning itself
as an innovative and trusted business partner for banks in
Switzerland," Swisscom said.
- Swisscom IT Services is aiming to increase revenue in the
banking segment from CHF 270 million to CHF 400 million by
2017.
- Swisscom will take on all of the 250 employees and the
Gümligen site in Switzerland will be retained.
- The acquired business unit will operate on the market under
the Swisscom brand name from April 2013.
-Zurich Bureau, Dow Jones Newswires, +41 43 443 80 47;
zurichdjnews@dowjones.com
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