Tieto's public offer for Avega

– strengthening our position as the preferred business renewal partner in Sweden

Tieto completes the public offer for Avega to strengthen its footprint in Sweden. On 23 October 2017, Tieto Sweden AB, a directly wholly owned subsidiary of Tieto Oyj, announced a recommended public cash offer to the shareholders of Avega Group AB (publ). All conditions for completion of the offer were fulfilled during the tender period ending 28 November. Tieto will accordingly complete the offer and settlement in respect of shares duly tendered up until 28 November 2017 will begin on or around 7 December 2017.

The acquisition will accelerate Tieto’s growth businesses and strengthen its footprint in the Swedish consulting-led market. Avega has approximately 350 employees and its net sales was EUR 45.2 million (SEK 428 million) in 2016.

Message from Tieto's President and CEO, Kimmo Alkio

Avega and Tieto together

Aiming to be the preferred business renewal partner for our customers in Sweden
Accelerating a broader services and software portfolio for customers
Strong footprint in successful digital transformation and proven global delivery capability
Capability to plan and execute large renewal projects
Expertize in eg. enterprise application and customer experience management areas
Committed to continuous development, advancing Nordic societies
Avega is planned to form the core for Tieto’s Business Consulting and Implementation in Sweden

Related documents

Offer release (EN) 23 Oct

Offer release (SE) 23 Oct

Statement by Avega Group's Board of Directors (EN)

Statement by Avega Group's Board of Directors (SE)

Offer document (SE)

Offer document (EN)

Acceptance form (SE)

Acceptance form (EN)

Antitrust Clearance (SE)

Antitrust Clearance (EN)

Offer completion (SE)

Offer completion (EN)

Result after prolonged acceptance period (SE)

Result after prolonged acceptance period (EN)