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TietoEVRY sells three software firms

TietoEVRY sells three software firms

Finland-headquartered managed services firm TietoEVRY is selling three software businesses to Nordics player EG.

The deal covers the Alystra, Jydacom and TRYGG/2000 units, and is part of TietoEVRY’s ongoing strategy of focusing on core business areas.

EG specialises in industry-specific software for private and public customers across the region, and the acquisition is said to be a good strategic fit for its existing portfolio.

The sold businesses, for an undisclosed amount, concentrate on creating software products for the construction, retail and transport markets, and are said to have limited operational dependencies with the rest of the TietoEVRY group.

Around 80 staff across the three companies in Finland and Sweden will transfer to EG.

Revenue of the sold businesses amounted to around €13m in 2020.

“With EG, the sold businesses will have a better ability to grow in their markets, continuing to develop the best solutions for their customers,” said Christian Segersven, head of industry software and financial services solutions at TietoEVRY.

TietoEVRY, with a €3 billion annual turnover, employs around 24,000 across 90 countries.