The EU competition authorities approved the establishment of TietoSaab Systems Oy
6 February 2006, The EU competition authorities have approved the establishment of TietoEnator’s and Saab’s joint venture company, TietoSaab Systems Oy (stock exchange release 2 November 2005 and 20 December 2005). The company launched operations on 1 February 2006.
Saab Group and TietoEnator agreed on strategic IT partnership. At the same time, they decided to pursue a joint venture called TietoSaab Systems Oy in Command and Control business in Finland by combining TietoEnator’s current Defence business and Elesco Oy, owned by Saab.
The planned business transaction was subject to the approval of competition authorities.
TietoSaab Systems is part of TietoEnator Government, Manufacturing & Retail business area. TietoEnator owns 60 % and Saab 40 % of the company’s share capital and votes. The joint venture is not expected to increase TietoEnator’s net sales in 2006. From this business transaction TietoEnator will record a capital gain of EUR 4.8 million in Q1/2006.
“We have prepared the start-up in an integration project since November. Our organisation is ready and the comments and customer expectations have been encouraging. We are now able to serve our customers with joined forces and wider service and product range”, says Pekka Liutu, Managing Director of TietoSaab Systems.
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 15 000 experts in more than 25 countries.
- Contact Information
- Pekka Liutu
- Managing Director
- TietoSaab Systems Oy
- Contact via E-mail
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