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Basware sells Cashier Desk business to Computer Program Unit.

MANews-(C)2009-2013

22 April 2013 a[euro]" Finnish financial process automation software solutions provider Basware Oyj (HEL:BAS1V) on Monday said it had sold its Cashier Desk business to domestic Computer Program Unit Oy (CPU) for an aggregate EUR1.54m (USD2m).

CPU has paid an initial consideration of EUR940,000 to Basware for the Cashier Desk service (Palvelukassa), which caters mainly to the Finnish municipal and public sector, and is to disburse the remaining EUR600,000 by end-February 2014. The sum covers the Cashier Desk business operations, customer accounts and all related technology, the vendor said.

Basware noted that the maintenance and development of the service would continue under the new owner, itself a software firm, which specialises in cash register operations related to customer service.

The business under the scope of the transaction generated net sales of some EUR650,000 last year.Country: FinlandSector: Computer SoftwareTarget: The Cashier Desk business (Palvelukassa)Buyer: Computer Program Unit OyVendor: Basware Oyj Deal size in USD: 2mType: DivestmentStatus: Closed

.END.PUB430>PDApril 22, 2013>JNMANEWS.PRICEDATENOT APPLICABLE.DAY

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Publication:M & A Navigator
Date:Apr 22, 2013
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