Business transactions

Based on a recommended public offer, Tieto Sweden AB acquired Avega Group AB, a Swedish consulting company in December. The acquisition will accelerate Tieto’s growth areas and strengthen its footprint in the Swedish consulting-led market. Avega is planned to take a lead role in driving Tieto’s business renewal agenda for Swedish customers and it will form the core of Tieto’s Business Consulting and Implementation in Sweden. Avega has approximately 350 employees and its net sales amounted to EUR 45.2 million (SEK 428 million) in 2016. Avega has been consolidated into Tieto as from 1 December.