Today the Norwegian Competition Authority has approved the merger between Tieto (Finland) and EVRY (Norway), the largest IT services companies in Nordics. The approval is subject to a divestiture commitment.
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.
The competition clearance in Norway is subject to a remedy, pursuant to which EVRY has committed to divest its business activities and assets relating to case management and archiving systems for the public sector.
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.