Swiss IT integration house Swisscom is to acquire the Entris Banking IT outsourcing business of RBA-Holdings, which provides services to 41 regional and savings banks across the country.
Financial details of the transaction were undisclosed, although Swisscom say it intends to invest a figure in the "mid double-digit million range" to build a new processing centre to house the business and its 250 employees. The deal, which is expected to close in March, forms a key plank in Swisscom's aim to increase revenue from the banking sector from Sfr270 million to Sfr400 million by 2017.
Andreas König, CEO of Swisscom IT Services, says: "We are building the processing centre of the future for banks in Switzerland. In doing so, we are reducing the costs of standardised banking processes and allowing banks to concentrate on their core competencies. Security, stability, reliability and efficiency are our priorities".
The acquired business unit will operate on the market under the Swisscom brand name from April 2013. The current CEO of Entris Banking, Philipp Perego, will take over management of the business within the finance division of Swisscom IT Services.
Jean-Baptiste Beuret, chairman of the board at RBA-Holding, comments: "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."