Tieto divests its pulp and paper operations in North America to focus on the growth markets in China and Russia
Tieto has sold the shares of TietoEnator Majiq (wholly-owned subsidiary of Tieto USA) to Constellation Homebuilder Systems (wholly-owned subsidiary of Constellation Software Inc). The agreement has no significant short term impact on Tieto’s sales, profit and personnel.
“The Majiq software division is the proven market leader for sales order processing and manufacturing execution systems software dedicated to the Pulp and Paper verticals in North America and several international markets. The acquisition of Majiq provides us with a new vertical market where we can apply our proven best practices. We welcome the employees, customers and products into the CHS (Constellation Homebuilder Systems) family,” said Dexter Salna, President of CHS.
“Pulp and paper industries are growing in countries like China and Russia. At Tieto we are refocusing our IT services on these growth markets. Europe however remains an important and strong market for us. This transaction will also rationalize our pulp and paper industry related solutions. Our focus is on providing services for ERP, SCM and MES solutions based on Microsoft, SAP and TIPS (Tieto Integrated Paper Solution)”, said Anttoni Vesterinen, Senior Vice President, Tieto Industrial Manufacturing & Services.
Tieto is an IT service company providing IT, R&D and consulting services. With approximately 16 000 experts, we are among the leading IT service companies in Northern Europe and the global leader in selected segments. We specialize in areas where we have the deepest understanding of our customers’ businesses and needs. Our superior customer centricity and expertise in digital services set us apart from our competitors.
Constellation’s common shares are listed on the Toronto Stock Exchange under the symbol “CSU”. Constellation Software is an international provider of market leading software and services to a number of industries across both the public and private sectors. Constellation acquires, manages and builds vertical market software businesses that provide mission-critical software solutions to address the specific needs of its customers in those industries. www.csisoftware.com
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