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Tietoevry
Tietoevry Corporation (natively Tietoevry Oyj, Tieto prior to June 2019) is a Finnish IT software and service company providing IT and product engineering services. Tietoevry is domiciled in Espoo, Finland, and the company's shares are listed on the NASDAQ OMX Helsinki, NASDAQ OMX Stockholm and Oslo Stock Exchange. Tietoevry has approximately 24,000 employees across 20 countries, and has customers in the energy, forestry, banking, healthcare and public sectors.
In June 2019, Tieto paid EUR 1.2 billion for the acquisition of similar-sized IT company EVRY.[citation needed] The intention was to expand on the Nordic market. The new company would be named TietoEVRY, have over 24.000 employees and generate a projected revenue of over EUR 3 billion for the fiscal year 2020.
At the end of 2015, the number of full-time employees was over 13,000 in more than 20 countries. 28% are located in Finland, 19% in Sweden, 17% in India, 15% in Czech Republic, 5% in Latvia, and the rest spread across other countries. 28% of the employees worldwide are women. Net sales by country was Finland 47%, Sweden 36%, and International 17%. As of 2014, 42.7% of Tieto's shareholders are Finnish and 3% are Swedish and 1% Bulgarian.
Tieto started its business operations in Espoo, Finland, in 1968 under the name Tietotehdas Oy. During the company's first years, it developed and maintained IT systems mainly for the Union Bank of Finland (Suomen Yhdyspankki, today Nordea), its customers and a few forestry companies.
The customer base of the company grew during the 1970s, when mini-computers were introduced alongside the existing mainframe computers. Besides mainframe computer services and software, the development of IT systems was also central to the operations of Tietotehdas. Customers represented several industries and operations were organized according to these verticals. During the 1990s, the company experienced rapid growth through a number of acquisitions, mergers and strategic alliances. The company's name was changed from Tietotehdas to TT Tieto in 1995 and Tieto in 1998. In 1996, the company strengthened its exposure in the telecom sector considerably through the acquisition of Avancer. In 1999, Tieto and the Swedish Enator corporation merged to form TietoEnator.
On 1 December 2008, the company re-launched the corporate brand and marketing name Tieto (which means knowledge in Finnish). The official registered name became Tieto Corporation, and the corporation is led from its Helsinki headquarters. Starting from year 2009, Tieto went with an aggressive strategy of offshore production, reaching up to the end of the decade. Kimmo Alkio started as the President and CEO of Tieto in November 2011.
In June 2019, Tieto paid EUR 1.2 billion for the acquisition of similar-sized IT company EVRY to expand into the Nordic market.[citation needed] Tieto subsequently rebranded as TietoEVRY.
In December 2015, Tieto signed an agreement to acquire Smilehouse, the largest Finnish solution provider of multichannel commerce with operations primarily in Finland and Sweden. Before the acquisition, Smilehouse's annual sales amounted to approximately EUR 10 million. Smilehouse was consolidated into Tieto on 1 December 2015.
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Tietoevry
Tietoevry Corporation (natively Tietoevry Oyj, Tieto prior to June 2019) is a Finnish IT software and service company providing IT and product engineering services. Tietoevry is domiciled in Espoo, Finland, and the company's shares are listed on the NASDAQ OMX Helsinki, NASDAQ OMX Stockholm and Oslo Stock Exchange. Tietoevry has approximately 24,000 employees across 20 countries, and has customers in the energy, forestry, banking, healthcare and public sectors.
In June 2019, Tieto paid EUR 1.2 billion for the acquisition of similar-sized IT company EVRY.[citation needed] The intention was to expand on the Nordic market. The new company would be named TietoEVRY, have over 24.000 employees and generate a projected revenue of over EUR 3 billion for the fiscal year 2020.
At the end of 2015, the number of full-time employees was over 13,000 in more than 20 countries. 28% are located in Finland, 19% in Sweden, 17% in India, 15% in Czech Republic, 5% in Latvia, and the rest spread across other countries. 28% of the employees worldwide are women. Net sales by country was Finland 47%, Sweden 36%, and International 17%. As of 2014, 42.7% of Tieto's shareholders are Finnish and 3% are Swedish and 1% Bulgarian.
Tieto started its business operations in Espoo, Finland, in 1968 under the name Tietotehdas Oy. During the company's first years, it developed and maintained IT systems mainly for the Union Bank of Finland (Suomen Yhdyspankki, today Nordea), its customers and a few forestry companies.
The customer base of the company grew during the 1970s, when mini-computers were introduced alongside the existing mainframe computers. Besides mainframe computer services and software, the development of IT systems was also central to the operations of Tietotehdas. Customers represented several industries and operations were organized according to these verticals. During the 1990s, the company experienced rapid growth through a number of acquisitions, mergers and strategic alliances. The company's name was changed from Tietotehdas to TT Tieto in 1995 and Tieto in 1998. In 1996, the company strengthened its exposure in the telecom sector considerably through the acquisition of Avancer. In 1999, Tieto and the Swedish Enator corporation merged to form TietoEnator.
On 1 December 2008, the company re-launched the corporate brand and marketing name Tieto (which means knowledge in Finnish). The official registered name became Tieto Corporation, and the corporation is led from its Helsinki headquarters. Starting from year 2009, Tieto went with an aggressive strategy of offshore production, reaching up to the end of the decade. Kimmo Alkio started as the President and CEO of Tieto in November 2011.
In June 2019, Tieto paid EUR 1.2 billion for the acquisition of similar-sized IT company EVRY to expand into the Nordic market.[citation needed] Tieto subsequently rebranded as TietoEVRY.
In December 2015, Tieto signed an agreement to acquire Smilehouse, the largest Finnish solution provider of multichannel commerce with operations primarily in Finland and Sweden. Before the acquisition, Smilehouse's annual sales amounted to approximately EUR 10 million. Smilehouse was consolidated into Tieto on 1 December 2015.