Tieto
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| Type | Public (OMX: TIE1V) |
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| Founded | 1999 |
| Headquarters | Espoo, Finland |
| Key people | Anders Ullberg (Chairman of the board), Hannu Syrjälä (President and CEO) |
| Industry | IT services |
| Products | IT and network services for industry |
| Revenue | €1.866 billion (2008)[1] |
| Operating income | ▲ €111.6 million (2008)[1] |
| Profit | ▲ €59.9 million (2008)[1] |
| Employees | 16,620 (2008)[1] |
| Website | www.tieto.com |
Tieto (registered name Tieto Corporation; until April 2009 TietoEnator) is an international software development company based in Finland.
Active in more than 25 countries with close to 17,000 employees, Tieto is one of the largest IT services providers in Europe.
The company has principal focus areas in the fields of banking & insurance, telecom & media, healthcare & welfare, forest & energy as well as government (in Finland), manufacturing and retail.
The company's shares are listed on the Helsinki Stock Exchange and Stockholm Stock Exchange.
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[edit] History
[edit] Founding
TietoEnator Corporation was formed by the combination of Tieto Corporation in Finland and Enator AB in Sweden on 7 July 1999.
After the merger TietoEnator has strengthened its expertise in chosen industries, for instance by acquiring IT service companies and outsourced IT units. From December 1st, 2008 onwards, the company launched a new corporate brand and marketing name Tieto (which means knowledge in Finnish). The official registered name of the company, TietoEnator Corporation, remains unchanged for the time being.
[edit] Takeover offer
Tieto received an unsolicited offer to acquire the company from the private equity firm Nordic Capital on 20 March 2008.[2] The formal offer, valuing TietoEnator at approximately €1.1 billion, was launched on 1 April, but was rejected by the company's board of directors, which stated that the price is insufficiently high.[3]
[edit] Currently
[edit] Operating countries
Tieto has offices in following countries: Austria, Belgium, Belarus, Canada, China, Czech Republic, Denmark, Estonia, Finland, France, Germany, India, Indonesia, Italy, Latvia, Lithuania, Malaysia, the Netherlands, Norway, Poland, Russia, Singapore, Sweden, Ukraine, the United Kingdom, and the USA (source: Tieto in brief, corporate brochure DEC 2008)
Net sales by country 2007: Finland (45%), Sweden (28%), Germany (9%), Norway (5%), Great Britain (3%), Italy (2%), Denmark/France/Netherlands (1%), Other countries (5%). (Source: Annual review 2007)
[edit] Human capital
- Around 17,000 employees work for Tieto
- 29% are women and 71% men.
- The average age is 40.5 years.
[edit] Shareholders
29% of Tieto's shareholders are Finnish and 20% are Swedish.
[edit] Activities and expertises
[edit] Industry expertises
- Banking and insurance
- Telecom, automotive and media
- Healthcare & welfare
- Forest, Energy, Manufacturing
- Retail and logistics
- Government
- Digital innovations
- ICT operation management
- Global software sourcing
[edit] References
- ^ a b c d "Annual Report 2008". Tieto. http://hugin.info/3114/R/1295018/294039.pdf. Retrieved on 2009-03-09.
- ^ "TietoEnator gets takeover offer from Nordic Capital". Bloomberg (International Herald Tribune). 20 March 2008. http://www.iht.com/articles/2008/03/20/business/tieto.php. Retrieved on 2008-04-08.
- ^ "TietoEnator board rejects Cidron offer". Reuters. 21 April 2008. http://www.reuters.com/article/innovationNews/idUSL2146912320080421. Retrieved on 2008-04-21.
[edit] External links
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