Affecto Oyj - Company Announcement

Affecto has agreed to sell its Estonian subsidiary

Affecto Plc – Stock Exchange Release, 8 December 2016 at 9:00, Helsinki

Affecto has agreed to sell its Estonian subsidiary

Affecto has agreed to sell its subsidiary business in Estonia (Affecto Estonia
OÜ) to the subsidiary’s acting members of staff. The transaction was a mutually
beneficial decision and is in line with Affecto’ s strategic direction. 

The selling price is approximately EUR 1.8 million and the transaction's
overall impact on Affecto Group’s operating profit in 2016 is expected to be
approximately EUR 1.1 million. Affecto’s Outlook for the year 2016 remains
unchanged. The Company expects to close the transaction in December 2016. 

It is Affecto’s conviction that the macroeconomic situation within Affecto’s
current Estonian customer market, with its increased price and salary pressures
and localized customer demand, can be most directly addressed by the
independent Estonian firm. 

Affecto is in the process of strengthening synergies across network of its
offices. After the transaction, the Estonian company will focus entirely on its
existing regional business, a move which Affecto’s Deputy CEO Iikka Lindroos
believes to be “most beneficial for the current customers and employees in
Estonia, and the sale is also the optimal solution for our shareholders”. 

Affecto will partner with the entity in Estonia. This will enable joint local
delivery solutions to continue for Affecto’s international customers. 


AFFECTO PLC
Juko Hakala
CEO


For additional information, please contact:

Iikka Lindroos
Deputy CEO
+358 40 8018331
iikka.lindroos@affecto.com

Stig Sandberg
Managing Director, Eastern Europe, South Africa & Delivery
+358 40 5033927
stig-goran.sandberg@affecto.com