EVRY and Sparebanken Vest enter into strategic agreement

(Oslo, 1 July 2014) EVRY and Sparebanken Vest have entered into a strategic agreement for a 5-year period. The agreement is intended to meet the challenge of today's dynamic market, characterised by banking customers who want new and innovative services that are simple, quick, and easy to use. The agreement represents total contract value of NOK 800 million.

EVRY will provide next generation core banking and payment solutions to Sparebanken Vest. In addition, EVRY will work as a partner with Sparebanken Vest on its program to renew and strengthen further its focus on digital banking services.

"Providing simple, accessible and user-friendly banking services based on stable and secure operations is an important part of ensuring that Sparebanken Vest is able to offer a good customer experience. The new collaboration agreement we have entered into with EVRY today is an important contribution to meeting our customers' expectations. The agreement will meet Sparebanken Vest's need for improved quality for its IT deliveries, and will also give the bank access to new, innovative and future-orientated banking solutions", comments Bjørg Marit Eknes, Director of Business Support and Development at Sparebanken Vest. She goes on to say that EVRY's next generation core banking and payment services is a strategically important choice to ensure that Sparebanken Vest will have a flexible and cost-efficient infrastructure.

"I am very pleased that over the next 5 years we will be continuing and deepening the excellent relationship we have with Sparebanken Vest. EVRY will be an active partner in the vigorous renewal program that Sparebanken Vest has planned for its banking services for the coming years. EVRY is now launching its next generation core banking and payment solutions, and this agreement serves to confirm that EVRY has a competitive value proposition with the potential for growth in the Nordic market", comments Terje Mjøs, CEO of EVRY. He also points out that with today's agreement, EVRY has now signed up two of its largest banking customers for this new generation of services.

An industry-standard service platform

EVRY is establishing its core banking system for the future as a service platform using industry-standard components. The transition will be achieved through the planned step-by-step adoption of a defined architecture. This approach to implementation ensures a controlled transition to a state-of-the-art and cost-effective platform. EVRY's development strategy and implementation methodology are firmly based on the company's close involvement in the Banking Industry Architecture Network. EVRY is the only Nordic member of this network.

EVRY's new payment solution applies state-of-the-art architecture that is based on ISO 20022. This means that the solution can be used in international markets and is flexible and cost-effective, as well as being well adapted for international requirements.

About the agreement

The new agreement with Sparebanken Vest comes into effect on 1 January 2015 and runs to 31 December 2019. The agreement represents total contract value of approximately NOK 800 million. The agreement also includes an option to extend for a further 2 years.

Contact persons:

Terje Mjøs, CEO EVRY, Tel: +47 06500
Morten Frogner, Acting CFO EVRY, Tel: +47 95724959
Geir Remman, VP Corporate Communications, EVRY, Tel: + 47 970 55 017

About EVRY

EVRY is one of the leading IT companies in the Nordic countries, with a strong local and regional presence in 50 Nordic towns and cities. Through its knowledge, solutions and technology, EVRY contributes to the development of the information society of the future, and so creates value for the benefit of its customers and for society as a whole. EVRY combines in-depth industry knowledge and technological expertise with a local delivery model and international strength.

EVRY has some 10,000 employees, and the company is committed to demonstrating that Nordic customers are best served by a supplier that understands Nordic business from the inside. EVRY reports annual turnover approaching NOK 13 billion. The company is listed on the Oslo Stock Exchange and operates from headquarters at Fornebu in Bærum, with major activities in both the Norwegian and Swedish markets.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.