Green light for Nordic IT merger
Today the Norwegian Competition Authority has given its final approval for the closing of the merger between Tieto (Finland) and EVRY (Norway), the largest IT services companies in Nordics. Haavind represented Tieto in the merger filing process.
Today the Norwegian Competition Authority has given its final approval for the closing of the merger between Tieto (Finland) and EVRY (Norway), the largest IT services companies in Nordics. Haavind represented Tieto in the merger filing process.
On 1 November 2019, the authority cleared the merger subject to a divestiture commitment. Today, the authority approved the buyer of the divestiture business and lifted the standstill obligation. As a result, the merger will be completed on 5 December.
The merger creates a company with combined revenue of EUR 3 billion and 24,000 professionals across the world. TietoEVRY will serve thousands of customers from private and public sector in more than 90 countries.
Haavind has acted for Tieto in the merger filing process and submitted the Norwegian merger filing. The transaction has also been cleared in Finland, Sweden and Ukraine.
“For the first time in Norway, a transaction has been cleared with commitments in phase 1 of the filing process”, says Simen Klevstrand, who heads Haavind’s competition law team.
