Tieto to divest its Lean System business in Finland

Tieto has agreed to sell its Lean System business to Palvelurahasto I Ky, a private equity fund managed by Finnish Korona Invest and management.

Lean System business offers enterprise resource planning services in manufacturing. It is operating as a separate business unit inside Tieto and employs 38 experts located mainly in the Helsinki region, Finland.

“Tieto is a strong player in the digitalization of the manufacturing industry. Our strategic choice is to concentrate on medium-sized and large enterprises and customers in public sector. We will continue providing full-stack services including a wide service portfolio to these customers and continue our investments in the area. The announced divestment is a continuation of Tieto's strategy, as the divested business offers services mainly to Finnish SME segment customers. We are very pleased to hand over the business to a reliable partner like Korona Invest,” comments Ari Järvelä, Executive Vice President, Manufacturing, Retail and Logistics at Tieto.

The business operations of Lean System business will be transferred to the new owner in the beginning of October. The parties have agreed not to disclose the financial terms of the transaction.

For more information:
Jessica Diktonius, Senior External Communications Manager: jessica.diktonius[at]tieto.com, +358 40 70 991 76.

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Tieto is the largest IT services company in the Nordics providing full lifecycle IT services. We also provide global product development services for companies in the communications and embedded technologies arena. Through industry insight, technology vision, and innovative thinking, Tieto proactively strives to inspire and engage our customers in finding new ways of accelerating their business.

Building on a strong Nordic heritage, Tieto combines global capabilities with local presence. Headquartered in Helsinki, Finland, Tieto has over 13 000 experts in more than 20 countries. Turnover is approximately EUR 1.5 billion. Tieto’s shares are listed on NASDAQ in Helsinki and Stockholm. www.tieto.com