TietoEnator acquires Pentec Ltds entire share capital

Thursday 31 March 2005 16:45 CET | News

TietoEnator has acquired the entire share capital of Pentec Ltd, a provider of IT solutions for the paper and corrugated board industry.

The acquisition supplements TietoEnators forest IT solutions and services and strengthens the Groups global market position within this sector. Pentec offers development and application management services and has 46 employees in Aylesford England. The company had annual revenues of approximately 4 MEUR in year 2004. Pentec will continue its activities as TietoEnators subsidiary effective as of 1st April 2005. After the acquisition, TietoEnator Forest has around 800 employees globally. The forest industry is a high priority to TietoEnator. The Groups position as a world-leading IT services provider to the forest industry is based on a strategic combination of industry-specific IT solutions and IT partnerships with leading forest industry companies.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce