Tieto pulls out of the joint venture plans with I-Teco in Russia

Tieto Corporation and I-Teco have agreed to pull out of their plans to establish a joint venture company in Russia. The plans were announced in September 2010.

Tieto and I-Teco have together re-evaluated the situation and conclude that in the current market environment the benefits from a joint venture would be smaller than initially estimated. The companies will, however, continue their cooperation in the data centre field in Russia. It has earlier been announced that Tieto already has a data centre in I-Teco premises in Moscow.

The Russian IT market has grown significantly during 2010, and also Tieto’s sales in Russia have grown during the past year. This growth has been achieved in several industry and service segments including projects related to the data centre services. With its existing data centre in Moscow, Tieto provides latest IT services in the market to its customers on the Russian market. The data centre is equipped with newest technology that makes it possible to offer, for example, cloud and SaaS (Software as a Service) services.

“We continue to see good growth potential in Russia, and to capture our share of this growth we continue to localize our offerings in Russia. We will develop our IT services and product portfolios to meet local needs even better. In addition, our customers will have access to innovative, high-quality data-centre related services such as capacity-on-demand, secure cloud computing and Software as a Service from our existing data centers,” says Wim Huisman, Executive Vice President, Central Europe & Russia, Tieto Corporation.

Tieto is the leading IT service company in Northern Europe providing IT and product engineering services. Our highly specialized IT solutions and services complemented by a strong technology platform create tangible business benefits for our local and global customers. As a trusted transformation partner, we are close to our customers and understand their unique needs. With more than 17 000 experts, we aim to become a leading service integrator creating the best service experience in IT. www.tieto.com