Longship acquires Norian from Finnish OpusCapita Group.

Finnish OpusCapita Group Oy, a fully owned subsidiary of Finnish Posti Group Corporation, has agreed to sell its Finance and Accounting Outsourcing business (FAO) to various funds managed by Longship, a Norwegian private equity investor.

FAO will act as a standalone company operating under the name Norian.

The value of the agreement has not been published.

The divestment allows OpusCapita to focus on its core transaction and software businesses, which include printing, scanning, software, e-invoices and other electronic transactions.

For FAO business, the arrangement enables it to develop its operations further with clearer customer focus and growth plan. The core offering for FAO continues to be Finance & Accounting and Payroll process management services as well as Robotic Process Automation.

In total 800 employees in 8 countries will be transferred to new ownership with current terms and conditions of employment. Of these employees, 11% work in Finland.

The net sales of the FAO business in 2016 was EUR 30 million. The Head of the Finance and Accounting Outsourcing business in Norway, Knut Anders Opstad, will head the new stand-alone company after closing.