Sentica Partners will acquire a 50% stake in Silta Oy from publicly traded Logica. Silta Oy is a venture with Finnish insurance companies Varma Mutual Pension Insurance Company and Sampo Oy. Terms were not released. Logica is a business and technology services company.
Logica today announces the conditional sale of its 50% stake in Silta Oy to private equity company Sentica Partners. The gross asset value is estimated at £1.1 million. The transaction is subject to approval by the competition authorities.
Silta Oy is a venture with Finnish insurance companies Varma Mutual Pension Insurance Company and Sampo Oy. The disposal will allow Logica to focus on its core competencies of IT and business services, in this particular instance around HR Business Process Outsourcing.
Silta Oy is the leading market provider of payroll outsourcing business and financial management in Finland.
For further information, please contact:
Logica Investor Relations: Karen Keyes +44 (0) 7801 723682 / Jose Cano +44 (0) 20 7446 1338
Logica Media relations: Louise Fisk +44 (0) 7798 857770
Brunswick: Sarah West/Jonathan Glass: +44 (0) 20 7404 5959
Logica is a business and technology service company, employing 41,000 people. It provides business consulting, systems integration and outsourcing to clients around the world, including many of Europe’s largest businesses. Logica creates value for clients by successfully integrating people, business and technology. It is committed to long term collaboration, applying insight to create innovative answers to clients’ business needs.
Logica is listed on both the London Stock Exchange and Euronext (Amsterdam) (LSE: LOG; Euronext: LOG).