IT services provider EDB Business Partner ASA has sold its 51% stake in its Polish joint venture EDB Ster Polska to partner company Ster Projekt SA, just two years after setting it up.
Oslo, Norway-based EDB teamed with Warsaw, Poland-based Ster Projekt to create the venture in November 2001 which was aimed at providing back office applications and related services to Poland’s financial services sector. EDB said that it would receive NOK 3.4m ($500,000) for selling its 51% stake.
The disposal follows EDB’s plan of pulling out of all its ventures outside the Nordic region. The company sold its Dutch subsidiary EDB MaXware Benelux to Clear2Pay in October 2003.
This article is based on material originally produced by ComputerWire.