Business transactions

In August, Tieto completed the agreement to acquire Software Innovation, a leading software company in the Enterprise Content Management (ECM) business in the Nordic countries. Software Innovation has approximately 350 employees, and in 2015 the company’s net sales amounted to around EUR 40 million. Currently, around 75% of its sales come from Norway and the public sector represents around 70% of sales.

In September, Tieto agreed to sell its Lean System business to Palvelurahasto I Ky, a private equity fund managed by Finnish Korona Invest and management. It was operating as a separate business unit inside Tieto, employing 38 experts located mainly in the Helsinki region, Finland.

In November, Tieto acquired Imano to strengthens its position in the paper and forest industries in Sweden. The company has approximately 50 employees in Sweden and its sales in 2015 amounted to around EUR 7 million.

In December, Tieto acquired Smilehouse, the largest Finnish solution provider of multichannel commerce with operations primarily in Finland and Sweden. Smilehouse’s team of around 75 professionals will join Tieto’s start-up for Customer Experience Management (CEM) and its sales in 2015 amounted to around EUR 10 million.