Formpipe, a leading provider of ECM software, today announces that it has signed a contract with Nordea-Fonden, a foundation supporting good living initiatives in Denmark, for the grants management product TAS. The total order value amounts to SEK 4.3 million for a duration of four years.

Nordea-Fonden has chosen TAS by Formpipe as their new grant management solution to gain transparency, simplicity and effective case management. The foundation was looking for a standard solution capable of handling the full administrative circle of grant management. TAS was chosen because of its effectiveness and flexibility to support future needs and because of the system’s ability to fulfil Nordea-Fonden’s requirements for a user-friendly self-service solution.

“This is the first contract outside the public sector, and it is very interesting that our standard product for grants management also fits the needs within parts of the private sector. Looking forward, this means that there is a wider potential for the product“, says Christian Sundin, President and CEO of Formpipe.

Nordea-Fonden is among the largest privates foundations in Denmark. Since 1989, it has allocated funds from returns and capital to support non-profit, public and charitable purposes. In 2016, Nordea-Fonden expects to donate DKK 560 mill. The foundation focus on health & nutrition, exercise, culture and nature.

Of the total order value, license revenues of SEK 0.8 million are recorded in third quarter of 2016, while associated revenue will be allocated throughout the contract period.

For additional information, contact:
Christian Sundin, President and CEO of Formpipe, +46 705 67 73 85

This is a translation of the original Swedish version. In the event of any discrepancies between the two versions, the original Swedish version shall take precedence.

The information in this press release is of the kind that Formpipe Software AB (publ) is required to disclose in accordance with the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. This information was submitted for publication on Wednesday, August 31, 2016.