The IT service companies Tietokeskus and Enfo are merging, with Tietokeskus acquiring Enfo’s entire shareholding. The merger will create Finland’s largest domestic IT service company, employing 800 specialists across the country. The combined turnover of the two companies is approximately EUR 200 million. The acquisition brings together complementary services and customer segments, broadening the joint service offering.
Tietokeskus Finland Oy and Enfo Oy are joining forces through an acquisition. Both companies operate nationally, with a total of 17 offices across Finland, and will continue to maintain strong local presence.
“This merger is excellent news for our clients and our specialists. Together, we become a more versatile partner and can offer the industry’s broadest expertise to meet our clients’ IT needs,” says Janne Lipiäinen, CEO of Tietokeskus Finland Oy.
Together, Tietokeskus and Enfo will serve businesses of all sizes as well as public sector organisations. The acquisition will not affect existing customer relationships.
“The market is consolidating, and our clients’ needs are continuously evolving. We aim to stay ahead and develop our services to meet these demands. Together, we can respond even more effectively to customer expectations regarding sustainability and cybersecurity,” Lipiäinen continues.
“The merger allows Enfo’s strong story to continue alongside Tietokeskus. We are forming a significant player in the Finnish IT market, ensuring business continuity for our clients through advanced IT services. For our employees, the merger opens up additional internal career paths and opportunities to develop their expertise,” says Nina Annila, EVP IT Services, Enfo.
[kuvateksti:] Nina Annila, Enfo & Janne Lipiäinen, Tietokeskus
Completion of the acquisition is subject to competition authority approval
In the transaction, Tietokeskus acquires all shares in Enfo, and as part of the corporate arrangement, Enfo’s current principal owner, Osuuskunta KPY, will become a minority shareholder in Tietokeskus with approximately a ten percent stake. Consulting business Epical will remain under KPY’s ownership. Vaaka Partners continues as Tietokeskus’ majority shareholder. The parties have agreed that the purchase price will not be disclosed.
The merger agreement was signed on Tuesday, 29 October 2024. The matter will now proceed to the Finnish Competition and Consumer Authority for review, which is expected to take no longer than one month.
Further information:
Janne Lipiäinen
CEO, Tietokeskus Finland Oy
+358 40 510 9117
janne.lipiainen@tietokeskus.fi
Tietokeskus is a leading provider of core IT services, delivering IT solutions and equipment to companies and public sector organisations across Finland. Tietokeskus has approximately 500 employees and 14 locations nationwide. The company’s estimated turnover for 2024 is around €150 million. www.tietokeskus.fi
Enfo provides business-critical IT services to ensure continuity and operational capability for its customers. Enfo employs more than 300 professionals and has three offices in Finland. The company’s estimated turnover for 2024 is approximately €46 million. www.enfo.fi