The Finnish IT -giant, Tieto, and Norway’s largest IT-company EVRY has announced a merger agreement. The merger has a total value of NOK 36 billion, and is one of the largest IT-transactions in Norway.
The new company will have a combined revenue of close to EUR 3 billion and 24 000 professionals. “TietoEVRY” will serve thousands of customers from private and public sector in more than 90 countries.
“This combination will create a company well positioned to be a leading provider of digital transformation across the Nordics,” says Kimmo Alkio, President and CEO of Tieto in the press release from EVRY.
Haavind has acted as advisor to Tieto throughout the transaction, including transaction structure and due diligence. Partner and Head of Haavind’s IT and Tech department, Leif Eirik Thrane, has led the cross-functional team, also comprising of Partner Andreas Vik on corporate matters and Partner Cornelius Sogn Ness on securities law. In addition, a considerable team of lawyers from Haavind has been involved throughout.
“This is a solid symbol of the cooperation that confirms Haavind’s position in technology and Tech M&A,” says Leif Eirik Thrane.
The merger is planned to be completed following the cross-border merger legal framework of Norway and Finland.
“A merger between to listed companies of this size is quite unique.” Partner Andreas Vik.