Tieto Corporation Press Release 18 February 2010 at 12.00 am EET
Tieto has sold the IPR on its software module for process data collection and analysis for paper mills (TIPS Info / MOPS) to Eurocon MOPSsys AB owned by Hans Hallin (51%), Eurocon Consulting AB (30%) and some employees of the company (19%). The transaction means that Tieto will focus on larger, wide scope solutions and services for the pulp and paper industry. The agreement does not have any significant impact on Tieto's sales or profit.
The new company Eurocon MOPSsys AB will focus on further development and sales of the software product as well as related services. According to the agreement Tieto has a Value Added Reseller agreement (VAR) with Eurocon MOPSsys and can act as the reseller and integrator of the product for its customers. Correspondingly, Eurocon MOPSsys has a Subcontracting Agreement with Tieto.
Based on this transaction, Tieto's offices and employees related to TIPS Info / MOPS in Sweden (Örnsköldsvik and Storuman) will be transferred to Eurocon MOPSsys on 1 march 2010. Equally, Tieto will sell the shares of TietoEnator Canada Inc to the new company during March. As a result the employees in Vancouver will also transfer to the new owner.
"The restructuring of the TIPS Info / MOPS business allows the new company to fully focus on MOPS customers with agility", said Hans Hallin, CEO of Eurocon MOPSsys AB. "The continued cooperation with Tieto is very important for us as Tieto will be one of our biggest customers. Our partnership with Eurocon Consulting AB gives us a head start with the backbone infrastructure and support. We also foresee synergies with the different operations within Eurocon group of companies that will be beneficial for both parties", Hans Hallin concluded.
"Tieto is the world's biggest supplier of IT solutions and services to the paper industry. We will now strengthen our focus on delivering comprehensive Supply Chain Management (SCM), Enterprise Resource Planning (ERP) and Manufacturing Execution System (MES) solutions as well as a wide scope of services to paper industry. The VAR and subcontracting agreements with MOPSsys ensure that services and solutions covering the process data management domain will be available to Tieto's customers now and in the future. Based on this transaction, Tieto's offering portfolio will become even more competitive", said Anttoni Vesterinen, Senior Vice President, Tieto Industrial Manufacturing & Services.
For further information, please contact:
Anttoni Vesterinen, Senior Vice President, Tieto, Industrial Manufacturing & Services, tel. +358 40 750 1717, anttoni.vesterinen@tieto.com
Hans Hallin, CEO, Eurocon MOPSsys AB, +46 70 641 1139, hans.hallin@mopssys.com
Christer Svanholm, Vice President, Eurocon, Process, tel. +46 70 696 8744, christer.svanholm@eurocon.se
TIETO CORPORATION
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Tieto is an IT service company providing IT, R&D and consulting services. With approximately 16 000 experts, we are among the leading IT service companies in Northern Europe and the global leader in selected segments. We specialize in areas where we have the deepest understanding of our customers' businesses and needs. Our superior customer centricity and Nordic expertise set us apart from our competitors.
www.tieto.com
Eurocon Consulting AB (publ) are technical consultants with services and products primarily focused on customers within the pulp, paper chemical and energy sector. Eurocon will, in close cooperation with its customers, further develop the quality on its services and products. This will improve the profitability of its customers which in turn will create a continued growth for Eurocon Consulting. The company has approximately 400 shareholders and is publicly listed on the Aktietorget stock exchange in Stockholm, Sweden.
