Business News

Saab acquires the entire share capital of TietoSaab Systems

Monday 06. July 2009 - Saab has acquired Tieto Oyj's 60% of the shares in TietoSaab Systems Oy. After the transaction, the earlier joint venture TietoSaab Systems will be fully owned by Saab.

In 2005, Saab and Tieto agreed on strategic IT cooperation for the period of 2006-2009 and established the jointly owned company TietoSaab Systems that specializes in command and control systems.

“The product and service offering of TietoSaab Systems depends, to a great extent, on Saab’s defence and security sector offerings. For this reason, we came to the conclusion that TietoSaab Systems can be better developed if it is fully owned by Saab. This change will help it offer its customers an even more comprehensive service selection,” states Jukka Mannermaa, head of the Public Industry unit at Tieto.

“Finland is an important market for Saab and a local operating company within the command and control business is important to create industrial cooperation and future growth in the country,” says Dan-Åke Enstedt, Executive Vice President and head of the Defence and Security Solutions business segment at Saab.

TietoSaab Systems delivers solutions for intelligence, command and control systems in the defence sector and for civil security customers. The extensive international expertise and partner networks of both Tieto and Saab are fully utilized in service production. TietoSaab Systems employs approximately 80 people and has offices in Espoo, Jyväskylä, Tampere and Varkaus. In 2008, net sales of the company amounted to EUR 9.3 million.