ESPOO, Finland, March 18, 2002 (PRIMEZONE) -- TietoEnator has acquired the remaining 40 % of Softema shares from Softema's founder-owners 15 March 2002. Softema Oy is a company specialising in the production of insurance and special business applications, and TietoEnator bought 60 % of its shares in May 2001.
Softema is the leading supplier of life and pension insurance systems in Finland. The finance sector is one of TietoEnator's key businesses and this acquisition will significantly improve TietoEnator's expertise in the area of life insurance. Softema employs 72 people and this year looks to net sales of approximately 7 EUR million. The company's customers include Nordea, the Sampo group, GE-Vakuutus, Aurum and the Finnish State Treasury.
With 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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