The data centre SDC, which specialised in providing comprehensive IT solutions to the financial sector, was sold to Netcompany for DKK 1 billion earlier this year. SDC was owned by its customers who constituted a large number of small and medium-sized financial institutions in the Nordic countries. Netcompany made the acquisition through a merger between SDC and the newly established subsidiary Netcompany Banking Services A/S (“NBS”). Accura assisted the banks in their capacity as owners and customers of SDC in relation to the sale of SDC.
Accura has subsequently assisted 23 banks in negotiating new outsourcing agreements with NBS. The assistance included the drafting and negotiation of a new contractual framework to reflect the fact that, in future, deliveries will be made on commercial arm’s length terms, including a financial model, service level targets and KPIs, ongoing compliance obligations, project regulation when adapting the platform, governance, etc.
To safeguard the banks’ interests in the new structure in which they are individual customers of a commercial supplier, the banks have also formed a new company owned by members of the financial sector, NFIT A/S, which may, for example, represent the banks in relation to NBS. Accura has assisted with the formation, the drafting of customer agreements between the banks and the establishment of a management structure, governance, etc.
Accura continues to provide advisory services to NFIT and the financial institutions. The banks have an ongoing project portfolio of more than 50 IT projects, some of which are very extensive and complex.