Easybank ASA and BRAbank ASA, an agreement with Stacc AS have been agreed, that stipulate that certain intellectual property relating to Application management system, Internet banking and credit card applications developed by BRAbank, is transferred to Stacc AS. The intention is that Stacc AS will further develop and commercialize the systems in question. The agreement ensures that the merged company (New BRAbank) receives a share of future commercial income related to the systems developed by BRAbank.

Stacc AS will establish a subsidiary to focus on the development and commercialization of the transferred intellectual properties. In addition, a development and maintenance agreement with Stacc AS have been entered into. The agreement will be activated as part of the merger, pending relevant authority approvals.

Stacc AS, based in Bergen Norway, is a finance technology company with about 80 employees, delivering modern, innovative and flexible systems to a wide range of banks and finance companies in the Nordic region. Stacc AS is already a key IT-supplier, both to BRAbank and Easybank.