RBA-Holding sold the IT-Outsourcing Business to Swisscom
Swisscom IT Services has acquired Entris Banking’s IT outsourcing business, which employs around 250 people. The move paves the way for the Swisscom subsidiary to set up an industrial processing centre with a view to positioning itself as an innovative and trusted business partner for banks in Switzerland.
Swisscom IT Services has acquired IT outsourcing business from Entris Banking. The move, which will allow the Swisscom subsidiary to expand its banking expertise, will see the company acquire Entris Banking's business platform, using which 41 banks with a total balance sheet value of CHF 50 billion process their banking transactions, from payment transactions, credit business and securities trading to e-Banking. The highly standardised, multi-client enabled business platform comprises some 35 peripheral systems in addition to the Finnova banking solution. Thanks to standardisation, automation and high volumes, banks benefit from a good price performance ratio.
Owner of Entris Banking, RBA-Holding (RBA) views the sale of Entris Banking's IT outsourcing business as a logical step in the chosen strategy of bundling volumes and taking advantage of economies of scale. Jean-Baptiste Beuret, Chairman of the Board at RBA-Holding, explains: „The IT outsourcing business can be developed more effectively in this direction under the Swisscom umbrella." The services more closely related to banking, such as compliance services as well as the central banking functions and Entris Banking's banking licence are to remain with RBA Holding. These will continue to be offered under the name of Entris Banking for RBA banks.
(Excerpt press announcement 8 February 2013)
Gut Corporate Finance acted as financial advisor to RBA-Holding.