"This agreement with SpareBank 1 is strategically and commercially very important for EDB. It reinforces EDB's strong market position in Norway and the Nordic region, and represents the foundation for our continuing development in the bank and finance market over the next 10 years", explains Endre Rangnes, CEO of EDB.

 

SpareBank 1 and EDB Business Partner have established a strategic collaboration for the development of bank and finance solutions that will ensure competitive business processes. These solutions will be based on the in-depth technical business expertise of SpareBank 1 and EDB's experience in the development of components for the bank and finance market. The new solutions are at the leading edge of the Nordic market, and will be delivered through a collaboration that shares the costs between the parties.

 

In addition, during the course of the contract EDB will migrate the banking operating services from a mainframe environment to a Unix solution, and this will ensure that SpareBank 1 achieves significant cost savings.

 

"We are very satisfied with the agreement. We made our choice after thoroughly evaluating the various systems available in the international market. Taking into account all the important factors, we believe that the agreement with EDB represents the best solution in terms of our business and technology requirements as well as the commercial terms agreed. The agreement also gives us access to capacity and flexibility to meet future changes in market requirements", comments Eldar Mathisen, CEO of SpareBank 1 Gruppen AS.

 

"I am delighted by the confidence the alliance has demonstrated in us by choosing EDB in competition with other major international vendors. This confirms that the solutions we offer are competitive and deliver what a major banking group needs to help realise its strategic objectives. The agreement to collaborate on developing new component-based stations is unique in the Nordic context, and will allow SpareBank 1 and EDB to increase their pace of innovation very significantly", explains Endre Rangnes, CEO of EDB. 

 

The agreement with SpareBank 1 comes into effect from 1 July 2007, and replaces an existing agreement that originally ran to 31 December 2008. The parties have produced a timetable for completion of the final contractual documents.

 

 

 

Endre Rangnes, CEO, EDB. Tel: +47 22 77 21 01

Eva Trasti, EVP - Bank & Finance, EDB. Tel: +47 901 17 009

Geir Remman, EVP - Corporate Communications and Marketing, EDB. Tel: + 47 970 55 017

 

Eldar Mathisen, CEO, SpareBank 1 Gruppen AS. Tel: +47 900 33 266

Eivind Gjemdal, EVP - IT and Purchasing, SpareBank1 Gruppen AS. Tel: +47 915 32 218

Thoralf Granerød, Head of Corporate Communications, SpareBank 1 Gruppen AS. Tel: +47 918 30 369

 

 

EDB Business Partner is a leading stock exchange listed IT group for the Nordic region. The group has 3,800 employees, and reported turnover of NOK 5.8 billion in 2006. EDB delivers solutions that cover the entire range of business critical IT services from application services and industry-specific solutions through to IT operating services and network solutions. EDB is committed to being a close and attentive IT partner that helps its customers operate more efficiently and achieve their business objectives. EDB Business Partner is listed on Oslo Børs with the ticker code: EDBASA. 

 

SpareBank 1 is an alliance based on collaboration between 23 independent banks that work together through their common ownership of the financial group and the development company SpareBank 1 Gruppen AS.

SpareBank 1 Gruppen AS is owned by: SpareBank 1 Nord-Norge (19.5%), SpareBank 1 Midt-Norge (19.5%), SpareBank 1 SR-Bank (19.5%), Sparebanken Hedmark (12%), Samarbeidende Sparebanker (19.5%) and the Norwegian Federation of Trade Unions (LO)/affiliated unions (10%).

 

SpareBank 1 Gruppen, which was established in 1996, coordinates projects, manages the brand and operates the jointly-owned product companies for SpareBank 1.

 

SpareBank 1 Gruppen AS is the holding company of a financial group that owns 100% of SpareBank 1 Livsforsikring, SpareBank 1 Skadeforsikring, Bank 1 Oslo, ODIN Forvaltning and SpareBank 1 Medlemskort, as well as 90% of Actor Fordringsforvaltning and 24.5% of First Securities. SpareBank 1 Boligkreditt and the  EiendomsMegler 1 chain are also part of the alliance.