Itella acquires full ownership of joint Norwegian venture
Itella Information has signed a deal with Norway Post to acquire full ownership of Itella Information AS in Norway. Itella Information provides services for financial transactional processes; from the management of purchase and sales invoices, to the complete outsourcing of finance and accounting services.
The company was established in spring 2008, with Itella owning 51% and Norway Post 49%. The creation saw Itella strengthen its position in the Norwegian market, especially in the purchase invoice processes.
“Itella Information’s focus is more and more on the whole process of financial transactions – from the purchase to pay area to the efficient sending of invoices and to all financial transactional processes like accounts receivable, accounts payable, travel expenses, payroll, payments, asset accounting, general ledger and reporting. The joint venture with Norway Post was an important part of our strategy,” said senior vice president Heikki Länsisyrjä from Itella.
“Norway Post has been very pleased with our joint venture with Itella Information AS. We believe that selling us off is a good solution for the company in relation to our strategy and further development,” added Tone Willie, director at Norway Post.
By acquiring the full share of the company, Itella Information aims to become a leading player in services related to the financial transactional processes in Scandinavia.
Itella Information operates in 15 European countries and, with the partner network, also North America. Itella Information is part of the Itella Group, owned by the state of Finland.
