Business News

Tieto Latvia acquires a part of Affecto Latvia

Monday 06. July 2009 - Tieto has extended its operations in Latvian IT market by acquiring a part of Affecto's business in Latvia and taking over customer contracts in public, finance and other areas, with the exception of Affecto Latvia's insurance business.

In accordance to the change of Affecto Latvia’s strategy, determined by the current situation in the economy of Baltic States, the owners of Affecto Latvia have decided to downsize the operations of the company and the number of employees in Latvia.

TietoEnator Alise, which is a joint venture of the Tieto Group, acquires the Affecto Latvia customer contracts with customers in Latvia, including various state agencies, private enterprises and banks. TietoEnator Alise will continue the cooperation with the customers and ensure the implementation of contracts. Twenty eight employees from Affecto Latvia will be integrated in the team of TietoEnator Alise, thus ensuring that customers will obtain the best knowledge and experience. The acquisition is effective as of 1 July, 2009.

Elmars Gengers, Tieto Latvia Country Manager: “This deal will ensure the former Affecto Latvia customers with continuity and security about the further development of their IT solutions in cooperation with Tieto – a company which has a long and successful history of operations in Latvia.”

Tieto in Latvia is represented by IT services companies TietoEnator Alise and TietoEnator, which has operations in the industries of Financial Services (Cards), Retail and Logistics and IT Outsourcing and Managed Services. Tieto has over 650 employees in Latvia, and is located in Riga and Liepaja.