TietoEnator divests its holding in Swedish TietoEnator GM&R AB to Stelo AB
4 September 2007 TietoEnator has agreed on the sale of the entire share capital of TietoEnator GM&R AB to Stelo AB (Sirius IT). The main business activities of the company are application management and project services mainly to customers within the retail and logistics industries. The company has 23 employees, all of whom will move to Stelo AB. The agreement takes effect from 1 September 2007.
The divested company is part of TietoEnator’s business area Government, Manufacturing & Retail. The transaction does not concern other TietoEnator business areas, which will continue to provide their services to Swedish retail and logistics customers.
Eeva-Liisa Mauno, head of TietoEnator’s Retail & Logistics business, comments:
“The divested Swedish business meshes well with the new owner’s strategy and plans. Our future focus in this industry is in Finland, the Baltic countries and Russia. We will also continue to support our present key customers in their Nordic operations.”
The divestment will have no material impact on the business area’s net sales and operating profit.
For further information, please contact:
Eeva-Liisa Mauno, Senior Vice President, TietoEnator Retail & Logistics, tel. +358 400 500896
Kim Winther Jensen, CEO, Sirius IT Holding A/S, tel. +45 40 73 21 93
TietoEnator is among the leading architects in building a more efficient information society and one of the largest IT services providers in Europe. TietoEnator specializes in consulting, developing and hosting its customers’ business operations in the digital economy. The Group’s services are based on a combination of deep industry-specific expertise and the latest information technology. TietoEnator has about 16 000 experts in close to 30 countries.
Sirius IT is a Nordic IT company developing IT solutions to the public sector and parts of the private sector. The company offers solutions for e-services, self services and case handling processes with the aim to support customers in improving accessibility and service and to make operations more efficient. Sirius IT has 400 employees in Denmark, Norway and Sweden and had a turnover of 60 MEUR in 2006. Stelo AB is the Swedish part of the Sirius IT group.
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