Itella Group acquires OpusCapita
Finland-based Itella Group has announced the acquisition of OpusCapita, a firm that specialises in the automation of cash processes. OpusCapita, headquartered in Tampere, Finland, has 134 employees across the country, and will become part of the Itella Information business group.
The services of Itella Information cover entire financial management of customer companies from purchase to pay. OpusCapita will strengthen Itella’s competence in financial management processes, the company said.
As a result of the transaction, Itella will be capable of providing its customers with innovative added-value services related to the automation of financial management processes.
“The transaction supports OpusCapita expansion in Europe. The vision of OpusCapita is to set a European example in cash flow automation,” said Kari J. Mäkelä, CEO of OpusCapita.
Heikki Länsisyrjä, senior vice president of Itella Group, said: “Itella Information improves the efficiency of our customers’ financial and accounting processes such as purchase to pay and order to cash.
“OpusCapita’s expertise in the automation of financial management and financing is an excellent addition to Itella’s competitiveness as an innovative financial management outsourcing partner who provides added value.”
OpusCapita’s customer base includes over 50% of Finland’s TOP 200 companies as well as thousands of companies and organisations in Scandinavia. Itella Information has approximately 10,000 customers in Europe.
The net sales of OpusCapita in 2010 reached almost EUR 17.5m.
