- Tieto
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Tieto Oyj 
Type Julkinen osakeyhtiö Traded as OMX: TIE1V Industry IT services Founded 1999 Headquarters Helsinki, Finland Key people Markku Pohjola (Chairman), Kimmo Alkio (President and CEO) Products IT and network services for industry Revenue €1.714 billion (2010)[1] Operating income €72.4 million (2010)[1] Profit €49.5 million (2010)[1] Total assets €1.241 billion (end 2010)[1] Total equity €557.5 million (end 2010)[1] Employees 17,760 (FTE, end 2010)[1] Website www.tieto.com Tieto Oyj (until April 2009 TietoEnator) is an IT service company domiciled in Helsinki, Finland.
Active in close to 30 countries with approximately 18,000 employees, Tieto is one of the largest IT service providers in Europe.
The company provides services to the following sectors: automotive, financial services, telecom & media, healthcare & welfare, forest, energy, manufacturing, retail & logistics and public.
The company's shares are listed on the NASDAQ OMX Helsinki and Stockholm.
Contents
History
Founding
Former company logo
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. On 1 December 2008, the company launched a new corporate brand and marketing name Tieto (which means knowledge in Finnish). The official registered name of the company is now Tieto Corporation.
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]
Change of President and CEO in 2011
In 2011, Board of Directors and Hannu Syrjälä agreed that Hannu Syrjälä will leave his position as of 28 April 2011. Ari Karppinen was appointed as acting director of Tieto Corporation, while at the same time Board of Directors also initiated a process for recruiting the new President and CEO.[4]
Kimmo Alkio, after being appointed in July[5], took over the post on 1 November and at the same time resigned from Tieto's Board of Directors[6].
Currently
Operating countries
Tieto has offices in following countries: Austria, Belgium, Belarus, Canada, China, the Czech Republic, Denmark, Estonia, Finland, Germany, India, Indonesia, Italy, Latvia, Lithuania, Malaysia, the Netherlands, Norway, Poland, Russia, Singapore, Sweden, Ukraine, the United Kingdom, and the USA.
Net sales by country 2010: Finland 48%, Sweden 28%, and International 25%.
Human capital
- Around 18,000 employees work for Tieto
- 27% are women and 73% men (2010)
- The average age is 40.5 years
40% of Tieto's shareholders are Finnish and 17% are Swedish.
Activities and expertises
Industry expertises
- Banking and insurance
- Telecom, automotive and media
- Healthcare & welfare
- Forest, Energy, Manufacturing
- Retail and logistics
- Public
- ICT operation management
References
- ^ a b c d e f "Annual Results 2010". Tieto. http://www.tieto.com/archive/materials/investors/interim-reports/year-2010/q4/interim-report-q4-2010-in-english. Retrieved 12 February 2011.
- ^ "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 2008-04-08.
- ^ "TietoEnator board rejects Cidron offer". Reuters. 21 April 2008. http://www.reuters.com/article/innovationNews/idUSL2146912320080421. Retrieved 2008-04-21.
- ^ "Tieto announces change of President and CEO" (Press release). Tieto Corporation. 28 April 2011. http://www.tieto.com/archive/news/2011/tieto-announces-change-of-president-and-ceo. Retrieved 4 Maz 2011.
- ^ "Tieto appoints Kimmo Alkio as President and CEO" (Press release). Tieto Corporation. 26 July 2011. http://www.tieto.com/archive/news/2011/tieto-appoints-kimmo-alkio-as-president-and-ceo. Retrieved 9 Nov 2011.
- ^ "Kimmo Alkio starts as Tieto's President and CEO and resigns from the Board of Directors" (Press release). Tieto Corporation. 1 Nov 2011. http://www.tieto.com/archive/news/2011/kimmo-alkio-starts-as-tietos-president-and-ceo-and-resigns-from-the-board-of-directors. Retrieved 9 Nov 2011.
External links
Categories:- Companies listed on the OMX exchanges
- Companies based in Espoo
- Companies of Finland
- Companies listed on the Helsinki Stock Exchange
- Information technology consulting firms of European countries
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