Basware Oyj

M&A Activity • Jan 11, 2011

Disclosure 283679

BasWare - Company Announcement

Basware signs large strategic Invoice Automation deal in North America

Basware signs large strategic Invoice Automation deal in North America Basware stock exchange release, January 11, 2011 at 12:30 Basware will deliver Invoice Automation and eOffice solutions to a global company in the IT sector for it to resell the solutions to its own small and medium sized clients. Additionally, the company has signed a Memorandum of Understanding (MOU) to initially co-sell and ultimately resell Basware Invoice Automation solutions to their larger enterprise customer segment. The transaction has an initial value of approximately EUR 1 Million in licenses, with a substantial additional opportunity in the future. The company is a member of the Fortune 1000 and has more than 140,000 customer organizations in 39 countries on five continents."This is a strategic partnership with an important global company. We are happy for the commitment the customer is showing by acquiring production licenses and are looking forward to strong cooperation with the company as our partner globally. This agreement strengthens our growth opportunities especially in North America", says Ilkka Sihvo, CEO Basware Corporation. Basware Invoice Automation (IA) uses automatic, business-rule based matching to minimize the need for time-consuming, repetitive invoice-handling tasks and enable efficient management of exceptions. Basware Invoice Automation optimizes process performance in financial departments and business units, enabling organizations to focus on creating added value for their customers. BASWARE CORPORATION Ilkka Sihvo For more information, please contact: CEO Ilkka Sihvo, Basware Corporation Tel. +358 40 501 8251 Distribution NASDAQ OMX Helsinki Ltd Key media [HUG#1478779]