28th May 2012 08:00
28 May 2012
Tapiola Data and Logica sign a Letter of Intent to establish a new company
Tapiola Data, a subsidiary of the Finnish insurance company Tapiola Group, and business and technology service company Logica have signed a Letter of Intent to develop a new company to provide information and communication technology to the Local Insurance companies of the Tapiola Group.
Negotiations relating to forming the new company will begin on 1 June 2012. The aim is to establish the new company by October 2012. The purpose of the new company is to develop and produce ICT services relating to banking and insurance activities of Local Insurance - Tapiola Group in order to harmonise, reshape and intensify operations.
"Local Insurance - Tapiola Group's business operations and tasks relating to the merger require a partner with strong IT service knowledge and industrial operating models. With a strong partner, we are able to ensure that the quality and the cost structure of service production meet our customer service and business requirements. The partner must also be able to provide enough resources for the project," said Juha Suutala, Managing Director at Tapiola Data.
"The letter of intent enables true partnership where both parties make investments to meet our common goals. We are creating new operating models and services by combining the knowledge in Tapiola Data with Logica's strong experience and expertise in producing business and technology services in the financial sector. The new company will also offer professional development and new career paths to skilled employees both locally and via our global operations," said Heikki Nikku, CEO in Logica 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
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