Tekla to sell its Defence business to Patria
9.2.2007 - Tekla and the Finnish company Patria have signed a Letter of Intent concerning transfer of Tekla´s Defence business to Patria´s ownership. Completion of the transaction is subject to a final agreement and a Due Diligence process.
Tekla´s Defence business employs over 20 persons and it is located in Espoo, Finland. The business area´s net sales were slightly over 2 million euros in 2006. Tekla Defence develops new-generation systems focusing on situational awareness, command and control as well as fire management.
- Our Defence business is profitable, and we have enjoyed our long-term cooperation with the Finnish Defence Forces. The decision to sell was not an easy one. However, Tekla wishes to focus further on product-oriented international business, so it is time to divest the Defence business area and its project-based business which operates in Finland. In addition, in our view the Defence business has greater potential for development in the hands of Patria, who is a specialist in this field, comments Ari Kohonen, President and CEO of Tekla Corporation.
- The deal will strengthen Patria´s competence at our Systems and Services Business Segment especially regarding the systems we develop for defence and security market. Tekla´s know-how and competences strengthen Patria´s position in the future projects with the Finnish Defence Forces and in the export market, states Mr Jukka Holkeri, Executive Vice President of Patria.
President and CEO
Tekla is the industry-leading international software company whose innovative software solutions make customers´ core business more effective in building and construction, energy distribution and in municipalities. The company´s model-based software products and related services are used in more than 80 countries. Tekla was established in 1966, making it one of the oldest software companies in Finland. For additional information on Tekla, please visit www.tekla.com
Patria is a defence and aerospace group with international operations delivering its customers competitive solutions based on own specialist know-how and partnerships. Patria is owned by the State of Finland and the European Aeronautic Defence and Space Company EADS N.V.
- Contact Information
- Ari Kohonen
- President and CEO
- Tekla Corporation
- Contact via E-mail
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