Innofactor Plc Stock Exchange Release March 21, 2017, at 15:10 Finnish time

Innofactor is selected as the provider of IT specialist services for TVR

The Unemployment Insurance Fund (TVR) arranged a bidding competition concerning IT specialist services needed for information system development, and has selected Innofactor as the provider. In accordance with the TVR's invitation to tender, the procurement will complement the customer's system development ability during the contract period. IT specialist services include, for example, a development team, which can perform needed information system development as part of the TVR's development projects utilizing agile methods. The national income register is estimated to be introduced at the beginning of 2019, and the TVR's Uikku project must produce the renewed system in its entirety by that time. The comparison price (excluding VAT) of the procurement for the contract period is EUR 959,550. The framework agreement will take effect after both parties have signed it, and will remain valid until further notice, but for 24 months at the minimum.

"The deal strengthens Innofactor’s position as one of the leading providers of IT specialist services in Finland. The TVR's Uikku project includes the system for determining unemployment insurance contributions and a web service, which are demanding technical wholes. We are happy to be able to participate in such an important digitalization project," says Innofactor's CEO Sami Ensio.

TVR is an independent institution, managed by labor market parties and controlled by the Financial Supervisory Authority, and its main function is to finance unemployment benefits. TVR is located in Helsinki and it has 100 employees.

The decision will be legally valid after the appeal period defined in the Procurement Act has passed.

Espoo, March 21, 2017


Sami Ensio, CEO

Additional information:
CEO Sami Ensio, Innofactor Plc
Tel: +358 50 584 2029

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Innofactor is a leading Nordic provider of digitalization and cloud solutions. Innofactor has Microsoft Ecosystem’s leading expertise and the most comprehensive offering in the Nordics. Innofactor has over 600 eager and motivated top professionals in Finland, Sweden, Denmark and Norway. Innofactor serves over 1,500 commercial, public, and third sector organizations. In 2012 to 2016, the annual growth of Innofactor’s net sales has been approximately 28%. The Innofactor Plc share is listed in the technology section of the main list of NASDAQ Helsinki Ltd. www.innofactor.com

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