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TietoEnator and OMX's cooperation change direction


TietoEnator and OMXs cooperation change direction In December 2005, OMX and TietoEnator announced an intention to create a joint venture company providing solutions and services for Nordic securities processing. The parties have now mutually decided to cooperate in IT operations, without establishing a jointly owned company. As part of the cooperation OMX and TietoEnator have reached an agreement which includes the divestment of a unit in IT operations with 21 employees to TietoEnator. The transfer will have a minor impact on OMXs sales and earnings in 2006 and the unit will be deconsolidated as from April 1, 2006. OMXs strategy remains to find a long term solution with clear customer benefits for the remaining parts of the former Banks & Brokers business area, involving approximately 75 employees. Negotiations are ongoing with two potential partners. For more information, please contact: Niclas Lilja, VP Corporate Communications +46 8 405 63 95 About OMX | OMX is a leading expert in the exchange industry. Through the Nordic Exchange in Copenhagen, Stockholm, Helsinki, Riga, Tallinn and Vilnius, OMX offers access to approximately 80 percent of the Nordic and Baltic securities market. Our integrated technology solutions span the transaction chain enabling efficient securities transactions for exchanges, clearing organizations, central securities depositories and other financial institutions around the world. OMX is listed on the Nordic Exchange in Stockholm, Helsinki and Copenhagen. For more information please visit PDF

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