AURELIUS to expand its IT Services segment substantially
- It will acquire the German and Dutch activities of the Finnish Tieto Corporation
- Seller to focus on its core markets
- AURELIUS to acquire the divisions Systems Integration & Consulting, Healthcare and Product Engineering Solutions, with approximately 900 employees in Germany, the Netherlands, Poland and India
Munich, February 4, 2013 – The Munich-based AURELIUS Group (ISIN DE000A0JK2A8) will acquire Tieto Deutschland GmbH, Eschborn, as well as related activities in the Netherlands, Poland and India, from the Tieto Corporation, based in Helsinki, Finland. Tieto, which is listed on the Finnish and Swedish stock exchanges, is selling these activities in order to focus on its core markets. The acquisition includes Tieto Deutschland GmbH, Tieto Netherlands Healthcare BV and some dedicated development resources in the off-shore and near-shore centers in Poland and India. Tieto is a leading provider of IT and product engineering services. In 2012, the acquired companies generated revenues of more than EUR 110 million. The transaction is still pending, subject to the approval of the competent cartel authorities, and should be completed in the second quarter of 2013. The parties agreed not to publish the purchase price.
The roughly 900 employees in different countries acquired as part of this transaction provide consulting services to prestigious companies in a wide range of fields, including automotive, energy, healthcare, manufacturing, finance and telecommunications. Through the use of smart products, digital services and mobile solutions and by integrating them with existing systems, such as automobile systems, the company creates new growth opportunities for its customers and boosts customer satisfaction, optimizes sales and designs innovative new workplaces inspired by social media. Building on this successful business model, AURELIUS will develop these activities further and seek to exploit regional growth potential in adjacent markets.
“Information technology will be an important growth driver for AURELIUS in the coming years. Acquired businesses from Tieto represent our fourth investment in this sector in just the last twelve months,” said Dirk Markus, Chairman of the Executive Board of AURELIUS. “The importance of IT will grow steadily in the coming decades and so we want to position our company for the long term.” Already today, AURELIUS generates annual revenues of well over EUR 550 million through its existing IT subsidiaries.
Mummert & Company, an international and independent corporate finance advisor based in Munich, exclusively advised Aurelius on this transaction.