Employment Fund selects Innofactor as the primary framework agreement supplier of IT specialist services

Innofactor Plc Inside Information, on June 16, 2020, at 13:37 Finnish time

The Employment Fund has selected Innofactor in a public procurement competition as its primary framework agreement supplier of maintenance and development of information systems. 

The procurement comprises maintenance and development IT specialist services and software. The specialist services can be utilized for maintenance, development and support according to needs. Work can be agreed as individual tasks, projects or continuous services. The deliveries may include software and software components.

The framework agreement is valid until further notice with a maximum duration of four years. According to the priority principle, Innofactor is also granted a contract regarding the delivery of an application maintenance and development team in addition to the framework agreement. Innofactor estimates the value of the framework agreement to be between EUR 3 and 5 million during the four years contract period.

The Employment Fund is an organization established by law and managed by the labor market parties. The Employment Fund was launched on 1 January 2019 through the merger of Unemployment Insurance Fund and the Education Fund. Finance Finland is responsible for oversight of the Employment Fund. The Employment Fund collects unemployment insurance contributions used for funding earnings-related unemployment benefits and promoting employees' competence development through adult education benefits. The Employment Fund is an important part of the Finnish social security system, and all employers and 17-64-year-old employees in Finland are its customers.

The decision will not be legally valid before the appeal period defined in the Procurement Act has passed.

Espoo, June 16, 2020

INNOFACTOR PLC

Sami Ensio, CEO

Additional information:

Sami Ensio, CEO

Innofactor Plc

Tel. 9

Distribution:

NASDAQ Helsinki

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Innofactor

Innofactor is the leading driver of the modern digital organization in the Nordic Countries for its over 1,500 customers in commercial, public and third sector. Innofactor has the widest solution offering and leading know-how in the Microsoft ecosystem in the Nordics. Innofactor has over 500 enthusiastic and motivated top specialists in Finland, Sweden, Denmark and Norway. In 2015–2019, the annual growth of Innofactor's net sales has been approximately 10 %. The Innofactor Plc share is listed in the technology section of the main list of NASDAQ Helsinki Oy. #ModernDigitalOrganization #PeopleFirst