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Avega Group divested to Tieto

Name: Evli
Price range: $

Divestment to Tieto

December 2017

Sector: Technology

Service: M&A

Our role

Exclusive financial adviser to the majority owners of Avega Group on the sale to Tieto

Buyer

Tieto Oyj (publ) is listed on Nasdaq Helsinki and Nasdaq Stockholm, and is one of the leading IT service providers in the Nordic region. The Tieto Group has approximately 13,000 employees and operations in 23 countries, with net sales in 2016 of approx. EUR 1.5 billion

Target

Avega Group was listed on Nasdaq Stockholm and currently has approximately 350 employees spread across Stockholm, Gothenburg and Malmö. Group sales was SEK 428 million in 2016