Achievement of additional economies of scale; Processing business is sold to Swisscom.
RBA – Holding and BEKB sell Entris Operations AG to Swisscom IT Services. They hereby open the potential for further economies of scale in payment processing and securities processing.
RBA Holding and BEKB sell Entris Operations, which was founded in 2007 an in which both parties own half, to Swisscom IT Services. With 220 employees Entris Operations processes the transaction payments and furthermore the securities administration of roughly 50 banks. The company works on the banking system IBIS3G of BEKB and on the business platform Finnova as core system.
The sale of Entris Operations is a logical step after RBA-Holding had already sold a part of Entris Banking in April to Swisscom. With the sale of Entris Operations the volume can be further aggregated and the economies of scale can be used more efficiently. RBA and BEKB benefit from this automatization – amongst other things from the decreasing processing price by unvaried quality.
With the acquisition by Swisscom the current industrialisation tendencies are accounted for, which ultimately lead to the banks being able to concentrate on their core processes and their advisory capacity in the actual banking business. RBA and BEKB emphasized that Swisscom takes on all the employees and that the site in Gümligen is maintained. The closing of this transaction is scheduled for the end of june.
(Excerpt press announcement 3. Juni 2013)
Gut Corporate Finance acted as financial advisor to RBA-Holding.