TietoEnator acquires Pentec Ltd's entire share capital

TietoEnator Corporation Press Release 31 March 2005 4.00 Pm

TietoEnator acquires the entire share capital of Pentec Ltd, a provider of IT solutions for the paper and corrugated board industry. The acquisition supplements TietoEnator's forest IT solutions and services and strengthens the Group's 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 TietoEnator's subsidiary effective as of 1st April 2005. After the acquisition, TietoEnator Forest has around 800 employees globally.

"This partnership is a great example of our focus on high value added IT-services for the forest industry. Together with Pentec we shall be able to offer world class IT services to Pentec's customers by incorporating TietoEnator's competences and resources with Pentec's competences to offer unique Forest IT-services," says Sakari Ruotsalainen, Senior Vice President, TietoEnator Forest.

"The partnership will enable us to draw upon the resources and great depth of skills within TietoEnator and will allow us to service our existing customers more effectively. TietoEnator's strength in the Forestry industry will also enable us to grow in this market in the UK," says Bill Sakaria, CEO, Pentec Ltd.

The forest industry is a high priority to TietoEnator. The Group's 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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