ESPOO, Finland, March 20, 2002 (PRIMEZONE) -- TietoEnator has acquired the entire stock of Softshark AS. Softshark, totally owned by its founders, is one of the leading software suppliers to the Estonian banking and finance market. The acquisition strengthens TietoEnator's position as the largest information technology partner of the Baltic banking and finance business.
Softshark employs 13 people and its estimated net sales in 2002 are approximately E1million. The company's customer base includes Sampo Group, Nordea Finance and Preatoni Pank.
The company will be renamed TietoEnator Financial Solutions AS, and its present management will continue working with the company.
With almost 11,000 employees and annual net sales of EUR 1.1 billion, TietoEnator is a leading supplier of high value-added IT services in Europe. TietoEnator specialises in consulting, building and hosting its customers' business operations in the digital economy. The Group's services are based on a combination of deep industry-specific expertise and latest information technology. www.tietoenator.com
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