Swisscom AG (SCMN.VX) Friday said its Swisscom IT Services subsidiary has bought the information technology outsourcing business of Entris Banking for an undisclosed sum.

MAIN FACTS:

- The deal is expected to be concluded by the end of March 2013.

- The move, will allow the Swisscom IT Services to expand its banking expertise, will see the company acquire Entris Banking's business platform, which is used by 41 banks to process their banking transactions, from payment transactions, credit business and securities trading to e-Banking.

- "The move paves the way for the Swisscom subsidiary to set up an industrial processing centre with a view to positioning itself as an innovative and trusted business partner for banks in Switzerland," Swisscom said.

- Swisscom IT Services is aiming to increase revenue in the banking segment from CHF 270 million to CHF 400 million by 2017.

- Swisscom will take on all of the 250 employees and the Gümligen site in Switzerland will be retained.

- The acquired business unit will operate on the market under the Swisscom brand name from April 2013.

-Zurich Bureau, Dow Jones Newswires, +41 43 443 80 47; zurichdjnews@dowjones.com

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