Akastor Completes Sale of Frontica Business Solutions to Cognizant (Scandinavian Oil-Gas Magazine)

Akastor Completes Sale of Frontica Business Solutions to Cognizant

Published Nov 30, 2016

Akastor has announced that the agreement to sell the ITO and the BPO business of Frontica Business Solutions AS to Cognizant has been completed. All closing conditions have been fulfilled, and the closing of the transaction took place on November 28, 2016 according to the terms and conditions described in an earlier release.

The sale will generate an accounting gain of approximately NOK 500 million to Akastor to be recognised in the fourth quarter results.

Tags: Akastor, Cognizant, Frontica Business Solutions AS

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