Bisnode divests part of operations in PAR
5/5/2010 9:50 AM EST
Bisnode’s subsidiary PAR, has divested part of its offering in sales of printing routines and information logistics. The divestment, which was completed on May 1, is a result of an increased focus on the core business and will not have any significant impact on earnings during 2010.
PAR is a leading provider of marketing solutions in Sweden. The part of operations engaged in information logistics has nine employees and annual sales of approximately SEK 30 million, with weak profitability. For many years PAR has collaborated closely in this area with Logica, which will now take over the related product range, customers and employees. However, PAR will retain sales of address and market information for the affected customers.
“The divestment is a result of our strategy to focus on our core business and to achieve our growth and profitability targets”, says Mats Erwald Regional Director Nordic, Bisnode.