Technopolis Plc has reached a preliminary agreement to acquire the Innopoli II building in Espoo's Otaniemi area. Innopoli II is owned by the City of Espoo, the Etera Mutual Pension Insurance Company and Sitra (the Finnish Innovation Fund). The deal covers the 20,625 square meter building built in 2002, as well as the lot it was built on. The purchase price is EUR 54,2 million, of which approximately 20 % will be paid in Technopolis Plc stock and the remainder in cash. Technopolis CEO Pertti Huuskonen says that the deal, which will almost double the company's assets in Otaniemi, represents an important step in the implementation of the Group's long-term growth strategy in Espoo. "Otaniemi is Finland's single largest concentration of technology-related research and commercial activity, and that makes it an extremely strategic location for Technopolis", says Huuskonen. Technopolis Vice President Keith Silverang, who leads the company's capital area operations, underlines that the deal will significantly enhance the Technopolis offering in Otaniemi. "I'm excited about this deal because it will allow us to accelerate the full-scale implementation of the Tehnopolis concept in Otaniemi. We will be able to help our clients to evolve steplessly from start-ups to world-class technology companies within the park much more efficiently now", says Silverang. The Technopolis Otaniemi site now comprises the Innopoli I, Innopoli II and Technopolis Ventures headquarters buildings, with capacity of 46,826 square meters. There are 280 companies and organizations operating within these premises. In terms of the number of clients, Technopolis Plc is one of Europe's largest technology centers. It is also Finland's largest company that specializes in providing operating environments for high tech companies and offers a comprehensive service package combining modern premises and business and development services. Technopolis operates in Espoo, Jyväskylä, Lappeenranta, Oulu, Tampere and Vantaa in Finland and in St. Petersburg in Russia. Some 12,000 people from about 930 companies are currently working in its technology centers. The company's shares are quoted on the mid-cap list of the Nordic Exchange. For more information: Technopolis Plc, CEO Pertti Huuskonen, +358 400 680 816 Vice President Keith Silverang, +358 40 566 7785