Swedish Competition Authority approves TietoEnator's take-over of Ericsson product development operations

Swedish Competition Authority approves TietoEnator's take-over of Ericsson product development operations The Swedish Competition Authority has approved TietoEnator's take-over of Ericsson's development operations in Karlstad, Luleå, Umeå and Skellefteå in Sweden. The partnership agreement was announced on September the 26th and means that TietoEnator takes over approximately 860 employees involved in Ericsson's customer related software development and maintenance for mobile and fixed systems. The transfer of the operations is planned to take place on November 1st 2002. TietoEnator thereby consolidates its position as the Nordic regions' leading provider of research and development (R&D) services for the telecom industry. The employees concerned will be transferred to a new business unit within TietoEnator Telecom & Media, Sweden, and will constitute a strong competence basis for TietoEnator's further activities within the telecom area. For further information, please call: Eric Osterberg, Senior Vice President, Corporate Communications, TietoEnator, +46 705 90 05 99. With almost 12,000 employees and annual net sales of EUR 1.1 billion, TietoEnator is a leading supplier of high value-added IT services in Europe. TietoEnator specialises in consulting, building and hosting its customers' business operations in the digital economy. The Group's services are based on a combination of deep industry-specific expertise and latest information technology. www.tietoenator.com TIETOENATOR CORPORATION DISTRIBUTION Helsinki Exchanges Stockholm Stock Exchange Principal Media ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/10/25/20021025BIT00060/wkr0001.doc http://www.waymaker.net/bitonline/2002/10/25/20021025BIT00060/wkr0002.pdf