The Legal Register Centre selects Innofactor as the provider of the bankruptcy and reorganization proceedings system (KOSTI)

Innofactor Plc Insider Information March 24, 2020, at 16:15 Finnish time

The Legal Register Centre has selected Innofactor in a public procurement competition as the provider of the bankruptcy and reorganization proceedings system (KOSTI). The goal of the KOSTI project is to renew the operation of the Office of Bankruptcy Ombudsman, which operates under the Ministry of Justice. The new system will enable electronic case management and transactions as well as better steering and monitoring of the office's operation.

The procurement consists of the following for the KOSTI system: delivery and implementation projects, maintenance and support services, and specialist services for further development. The system to be provided by Innofactor will be based on Innofactor’s Dynasty product family and agile system development in cooperation with the customer. The system delivery is planned to be implemented in stages during 2020–2021. The predicted total value (excluding VAT) stated by the Legal Register Centre in the procurement decision is EUR 2,247,000 for a period of four years. The contract is valid until further notice.

The Legal Register Centre is an agency in the administrative sector of the Ministry of Justice whose function is to act as the controller for information systems and registers in the administration sector of the Ministry of Justice as well as to convey information reported by authorities in the administration sector to other authorities.

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

Espoo, March 24, 2020

INNOFACTOR PLC

Sami Ensio, CEO

Additional information:

Sami Ensio, CEO

Innofactor Plc

Tel. 9

Distribution:

NASDAQ Helsinki

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