SOLIDIUM INVESTS IN TIETO CORPORATION
(Thomson Reuters ONE) -
Solidium now holds 5.0 per cent of the shares
Solidium Oy has acquired 5.0 per cent of the shares in Tieto Corporation for
approximately EUR 58 million. Tieto is among the leading IT service companies in
Northern Europe and the global leader in selected segments. Solidium is now the
third largest owner in Tieto.
"Solidium's mission is to own nationally important companies and Tieto is
considered to be one of the companies fulfilling Solidium's mission and targets
particularly well", says Solidium's Managing Director Kari Järvinen." Tieto is
an important Nordic services provider and fits Solidium's ownership interests
excellently. The company has great possibilities to grow profitable in its
strategic growth areas and we believe that Tieto is a good investment in the
long term. Finnish ownership in Tieto is highly motivated and therefore we might
increase our holding in the company further, however, taking market conditions
into consideration."
Tieto is an IT service company providing IT, R&D and consulting services. The
company is among the leading IT service companies in Northern Europe and the
global leader in selected segments. Tieto's target is to become the leading IT
service company in Northern Europe, with a significant presence in Russia, and
the world leading telecom R&D partner by 2011. In 2009, net sales of Tieto
totalled approximately 1.7 billion euro and the operating profit excluding
one-off items amounted to 108 million. The number of full-time employees in 26
countries amounted to approximately 16,700 at the end of December, 2009 of which
5,800 in Finland. The company's shares are listed on NASDAQ OMX in Helsinki and
Stockholm.
Further information: Managing Director Kari Järvinen, Solidium Oy, tel. +358
(0)10 830 89 05
Solidium is a holding company wholly owned by the State of Finland, which
cooperates with other investors. Solidium's holdings involve national interests,
but its investment decisions are based on financial considerations. An active
participant in the Finnish capital market, Solidium finances its activities with
investment income and debt. Solidium's portfolio contains eleven listed
companies, in all of which Solidium has a minority holding (Elisa Corporation,
Kemira Oyj, Metso Corporation, Outokumpu Oyj, Rautaruukki Corporation, Sampo
plc, Stora Enso Oyj, Sponda Plc, TeliaSonera AB, Tieto Corporation and Tikkurila
Oyj). The market value of Solidium's equity investments is some EUR 8.7 billion.
Further information: www.solidium.fi
[HUG#1400802]
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Datum: 08.04.2010 - 02:00 Uhr
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