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TietoEnator Corporation signs agreement to acquire Primasoft Oy
Nordic Business Report, April 15, 2008
NORDIC BUSINESS REPORT-15 April 2008-TietoEnator Corporation signs agreement to acquire Primasoft Oy(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com
Finnish-Swedish IT group TietoEnator Corporation (OMX Helsinki: TIE) said on Tuesday (15 April) that it has entered into an agreement on acquiring the shares of Primasoft Oy, a joint venture owned by TietoEnator (60%), Sampo Plc (20%) and Sampo Bank/Danske Bank (20%).
TietoEnator now owns the entire share capital of Primasoft, the company added.
At the same time parts of Primasoft's application management business were sold to If P&C Insurance Company and Sampo Life.
The arrangement concerns all Primasoft's 290 employees. About 100 employees will transfer to If P&C Insurance Company, and a maximum of 10 employees will move to Sampo Life.
The remaining part of Primasoft's business and employees will be integrated into TietoEnator, the company said.
TietoEnator is an IT group in Europe, with over 15,000 employees in more than 25 countries. The company is listed on the OMX Nordic Exchange in Helsinki and Stockholm.
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