OpusCapita has completed the divestment of its Financial and Accounting business
September 12, 2017
OpusCapita, a company focusing on automating and digitalizing customers’ procurement, invoicing and payment processes, has today completed the divestment of its Finance and Accounting Outsourcing business (FAO) to Longship, a Norwegian private equity investor. The divestment was announced on 4th of May 2017. The value of the agreement has not been published.
In total 800 employees in 8 countries have been transferred to the new company with current terms and conditions of employment. After closing, OpusCapita employs 1300 professionals in 9 countries.
The divestment is an important strategic step for OpusCapita, and allows OpusCapita to focus on its core transaction and software businesses. For the divested FAO business, the arrangement enables it to develop its operations further with clearer customer focus and growth plan.
Independently of this arrangement, OpusCapita is reorganizing its remaining businesses. OpusCapita’s document management, invoice sending, and debt collection services will be integrated as part of Posti Group service offering during the second half of 2017. The reorganization further supports OpusCapita’s growth strategy to develop global solutions for procurement, payments, and cash management.
OpusCapita helps organizations sell, buy and pay more effectively by providing them with extended purchase-to-pay and order-to-cash solutions. With 600 million transactions processed annually by over 8,000 customers across more than 100 countries, we have created a global ecosystem where buyers, suppliers, banks and other parties connect, transact and grow. Together with our customers, OpusCapita is transforming sales, procurement and financial processes for the digital age. In 2016, OpusCapita’s net sales were EUR 240 million and employed 2,000 professionals. Founded in 1984, OpusCapita is headquartered in Helsinki, Finland. OpusCapita is a fully owned subsidiary of Posti Group Corporation. To learn more, please visit www.opuscapita.com.
Longship is a private equity investor targeting medium sized growth companies in Norway. Longship is partnering with owners and high caliber management teams in growth businesses. We support our companies with financial resources and experience, in order to accelerate growth and realize their full potential. We like complex and challenging opportunities, and always try to look beyond the obvious to understand the uniqueness of a particular business. Longship believes that partnering with management, who are as ambitious as we are, is essential to unlock the full potential of any company. To learn more, please visit www.longship.no.
Karoliina Haikonen, Head of Communications firstname.lastname@example.org tel. +358 44 345 5554