| EDB sells its subsidiary MaXware Benelux to Clear2Pay |
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(Oslo, 01.10.03) EDB Business Partner has signed an agreement to sell its Dutch subsidiary MaXware Benelux to the Brussels-based company Clear2Pay. The sale values the company at EUR 1.3 million, with settlement in cash and shares. The sale of MaXware Benelux to Clear2Pay represents a further step in the restructuring currently underway of EDB's Bank & Finance business area. EDB Bank & Finance no longer intends to own and operate companies outside the Nordic region, but will instead work through strategic collaboration with selected partners. The sale will have no impact on EDB`s accounts.
"Clear2Pay offers very attractive technology and solutions packages for payment environments, to which sector knowledge and solutions from MaXware will be added.
The Clear2Pay range complements the solutions we offer. EDB and Clear2Pay therefore intend to build a partnership relationship for payments processing components and infrastructure", explains Ole Urdahl, Executive Vice President, Bank & Finance, EDB Business Partner.
Michel Akkermans, Chairman & CEO of Clear2Pay, states, "The acquisition of MaXware Benelux is a stepping stone towards becoming a European player in the payment and financial value chain management market. Via the partnership with MaXware Benelux's former owner, EDB Business Partner, we are able to provide our solutions in the Scandinavian market too. The outsourcing and hosting capabilities of EDB together with the advanced payment and payment-related solutions of Clear2Pay form a powerful combination."
MaXware Benelux operates from offices in Amsterdam. The company offers a/o web-based delivery channels for secure rapid transmission of high volume data .
Clear2Pay offers multi-channel solutions for secure electronic payments together with the infrastructure to handle large transaction volumes. More information is available on www.clear2pay.com.
Any enquires may be addressed to:
Ole Urdahl, Executive Vice President, Bank & Finance, EDB Business Partner.
Tel: + 47 90 53 61 16
Kimball Felix, Marketing & Communications,
Clear2Pay: Tel: +32 2 759 94 96, Kimball.felix@clear2pay.com
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