Acquisition of Inveos strengthens TietoEnators position in the German banking and finance IT market

Thursday 8 January 2004 18:26 CET | News

TietoEnator has acquired 95.5 % of the share capital in Inveos AG effective from 31st December 2003.

Through the acquisition, TietoEnator continues its international expansion and strengthens its banking and finance competence in Germany. Inveos AG has generated approximately EUR 17.5 million annual net sales with 120 employees. Inveos AG, located in Hamburg, is an IT and consultancy company that has operated for some 20 years specializing in services for banks, insurance companies and leasing companies as well as in the area of SAP. Among the customers are Allianz, AXA, BHW, DG HYP, Deutsche Bank, Deutsche Leasing, Deutsche Rückversicherung, Hamburger Sparkasse, HypoVereinsbank, Protection Re, Provinzial Nord Brandkasse, R+V Versicherung, UNIQA Versicherungen, Verband Öffentlicher Versicherer, VR Kreditwerk, VR Leasing, Zürich Versicherungsgruppe.

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Categories: Payments & Commerce | Payments General
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