The expansion relates to mainframe and server operations for the pensions and life insurance company SPP in Sweden. In addition, Storebrand has extended the term of its original operating services agreement to 13 January 2014. The new agreement comes into effect on 1 March 2008.

Following its acquisition of SPP, Storebrand is definitively the largest life insurance company and the leading supplier of occupational pension products in the Nordic region. The services to be provided by EDB will help to harmonise the IT systems used by Storebrand and SPP so that the group can realise synergy benefits and build common services in the future.

"EDB is a leading supplier for IT outsourcing, and we see its strength in the Swedish market as a key factor in our choice of a long-term IT partner for SPP. EDB's expertise will play an important role in integrating IT operations at Storebrand and SPP and ensuring that we make the best possible use of the group's combined IT resources", explains Lars Hedenstad, Head of IT Infrastructure at Storebrand Livsforsikring

"This new and expanded agreement with Storebrand confirms EDB's position as the leading supplier of IT services for the Nordic banking and finance sector. EDB aims for Nordic leadership, and this agreement makes the Storebrand group one of EDB's largest customers", comments Endre Rangnes, CEO of EDB.

The additions and changes to the contract are expected to represent additional contract value of around NOK 300 million, of which the deliveries to SPP amount to around NOK 150 million.