News

, April 20, 2011

Ordina announces sale of Finext

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.

About Ordina

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.

About Finext

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 customer.

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