Tietokeskus and Enfo to join forces and become largest domestic company in the IT sector
IT service companies Tietokeskus and Enfo will join forces following a full buyout of Enfo´s shares by Tietokeskus. The combined companies will become Finland’s largest domestic IT service company, with 800 specialists around the country. While the transaction concerns Enfo’s IT service business, Osuuskunta KPY will remain the majority owner of Enfo’s subsidiary Epical. The completion of the acquisition is subject to the approval of the Finnish Competition and Consumer Authority.
With this acquisition, Tietokeskus Finland Oy and Enfo will unify their IT service business activities and form Finland’s largest domestic IT service company. The combined turnover of the companies will be approximately EUR 200 million. The customer segments of Enfo and Tietokeskus complement each other, and the unification will expand the joint service offering. Both companies operate nationwide throughout Finland, at 17 locations in total in the future. Together Enfo and Tietokeskus will serve businesses and public organizations both large and small.
“The unification is great news for our customers and specialists,” says CEO Janne Lipiäinen of Tietokeskus Finland Oy. “Together we can be an increasingly versatile partner and offer the most extensive expertise in this sector for the IT needs of our customers. The market is consolidating, and we want to be one step ahead of the game.”
“Joining forces with Tietokeskus will allow Enfo to continue its powerful story – having provided trusted IT services for the past 60 years,” says EVP Nina Annila of Enfo IT Services. “We’ll form a significant player in the Finnish IT market, which will allow us to further develop and increase the business-critical IT services for our customers. We want to be a trusted partner ensuring the business continuity of customers. As for our employees, the unification will offer them further internal career paths and opportunities for competence development.”
The completion of the acquisition is subject to the approval of the Finnish Competition and Consumer Authority
The deeds of acquisition have been signed on Tuesday 29th of October 2024. Following this, the matter has been referred to the Finnish Competition and Consumer Authority for processing.
While the acquisition means a full buyout of Enfo´s shares by Tietokeskus, Enfo’s current long-term majority owner Osuuskunta KPY will become a minority owner of Tietokeskus, holding a stake of approximately ten per cent. Vaaka Partners will continue as the majority owner of Tietokeskus. In conjunction with the transaction, Osuuskunta KPY has committed to acquiring Enfo’s consultancy business (i.e. the shares in Epical). Osuuskunta KPY will continue as the majority owner of Epical. The parties have agreed that the price of the acquisition is not public.
The completion of this transaction is part of Osuuskunta KPY’s long-term Momentum investment strategy. According to CEO Anssi Lehikoinen, “Osuuskunta KPY has been Enfo’s majority owner for almost 20 years already, and we are proud of the long-term development journey of its IT service business. Now is the time for its next stage of growth. In our view, this arrangement is in the interest of Osuuskunta KPY’s and Enfo’s owners as well as Enfo, Epical and their personnel.”
The transaction will not affect existing customer relationships, and Tietokeskus and Enfo will continue to provide services as is.
Further information:
KPY: Anssi Lehikoinen, CEO, tel. +358 50 3282648, anssi.lehikoinen@kpy.fi
Tietokeskus: Janne Lipiäinen, CEO, tel. +358 40 5109117, janne.lipiainen@tietokeskus.fi
Enfo provides IT services essential for customers’ business and ensures the operational capability and continuity of customer companies. Enfo has more than 300 employees and three offices in Finland. Enfo’s estimated turnover for 2024 is approximately EUR 46 million. www.enfo.fi/en
Tietokeskus is a strong specialist in basic information technology, providing IT services and equipment to businesses and public administrations throughout Finland. The company has approximately 400 employees and 14 offices nationwide. The estimated turnover of Tietokeskus for 2024 is approximately EUR 150 million. www.tietokeskus.fi/en
