Tieto Oyj - Company Announcement

Tieto divests its Italian and Spanish businesses

Tieto Corporation STOCK EXCHANGE RELEASE 13 December 2012, 9.00 am EET

Tieto Corporation has agreed to sell its business operations in Italy and Spain
to GEA Enterprise S.R.L., a company owned by the current management of the
divested businesses. The business operations, including around 300 employees,
will be transferred to the new owner during December. 

Net sales of the divested businesses amounted to EUR 32 million in 2011, and
the main part of sales is attributable to the local telecom sector. The
divestment has not any significant impact on Tieto's profitability. According
to Tieto's estimate, an impairment loss of around EUR 2.6 million will be
booked in Global Accounts in the fourth-quarter results. 

“These divestments are part of our strategy implementation to drive focus and
full life-cycle services in scalable markets for Tieto. Synergies and
scalability of offerings are among the key criteria when evaluating our
presence in any markets. The divested businesses have served mainly local
customers and as during the past years, Tieto Italy and Tieto Spain have
managed their activities autonomously, we expect to see a good continuation of
the operations under existing local management. Steps taken during this year
form a solid foundation for the future,” says Lasse Heinonen, CFO. 


For more information, please contact:

Lasse Heinonen, CFO, tel. +358 2072 66329, +358 50 393 4950,
lasse.heinonen(at)tieto.com 

Tanja Lounevirta, Head of Financial Communications, tel. +358 2072 71725, +358
50 321 7510, tanja.lounevirta(at)tieto.com 


TIETO CORPORATION


DISTRIBUTION
NASDAQ OMX Helsinki
NASDAQ OMX Stockholm
Principal Media



Tieto is the leading IT service company in Northern Europe providing IT and
product engineering services. Our highly specialized IT solutions and services
complemented by a strong technology platform create tangible business benefits
for our local and global customers. As a trusted transformation partner, we are
close to our customers and understand their unique needs. With about 18 000
experts, we aim to become a leading service integrator creating the best
service experience in IT. www.tieto.com